The signing ceremony took place on November 6 at the Kim Dae-jung Convention Center in Gwangju.
Equinor plans to build a 750-megawatt (MW) floating offshore wind farm by 2030, located about 70 kilometers off the coast of Ulsan, South Korea. Floating wind turbines are mounted on floating platforms instead of being fixed to the seabed, allowing for power generation in deeper waters—an increasingly viable solution as coastal areas for fixed installations become limited.
The South Korean government has recently announced plans to auction between 2.5 and 3 gigawatts (GW) of floating offshore wind capacity by 2026, with 500 MW specifically allocated to floating wind in its first fixed-price contract auction.
LS Cable & System has developed South Korea’s first dynamic submarine cable for floating offshore wind projects. Dynamic cables are designed to withstand high waves and strong currents, ensuring reliable power transmission in challenging marine environments. Only a handful of companies globally have successfully created such technology.
Koo Bon-kyu, CEO of LS Cable & System, stated, “With our technological expertise, we aim to enhance the competitiveness of South Korea’s floating offshore wind industry and play a pivotal role in securing a leading position in the global market.”