South Korea-based LS Marine Solution has signed a contract, worth approximately $15.8 million (about €13.8 million), to lay submarine cables for the Taipower Offshore Wind Project Phase II (TPC Changhua Phase II) in Taiwan.
According to the company, the contract marks LS Marine Solution’s first win in overseas power grid projects and the first overseas expansion for a Korean submarine cable contractor.
“Based on our technology and experience as the first-generation submarine cable construction company in Korea, we have successfully taken our first steps into the overseas power grid market. With this Taiwan project, we will further expand our global reach,” said Byung-ok Kim , CEO of LS Marine Solution.
Foxwell Energy, an affiliate of Shinfox, won the tender from Taipower for the development of the wind farm.
The 300 MW offshore wind farm was one of the eleven projects selected by the Taiwanese government in April 2018.
The first jacket foundation has already been installed at the site located approximately 14.7 kilometers west of Lukang in Changhua County.
Once completed, the wind farm, which will feature Vestas V174-9.5 MW turbines, is expected to generate 1 GWh of power per year and could produce enough renewable energy to supply about 270,000 households.