SEOUL, April 11 (AJU PRESS) - LS Eco Energy, the ultra-high-voltage power cable subsidiary of South Korea's major power cable maker LS Cable & Systems, has started the shipment of power cables to Denmark. The power cables will be used for the construction of electricity infrastructure that connects the Danish mainland and an offshore wind farm.
The power cable company was established in 1996 as an LS Cable subsidiary targeting the Asian power cable market. The company is now one of Denmark's top players along with LS Cable. Currently, LS Eco Energy exports power cables to the North American and European markets accounting for about 30 percent of the company's sales.
The global market for high voltage power cables stood at $16.5 billion in 2021 and is predicted to grow at an average annual growth rate of about six percent to reach $27.87 billion by 2030, according to global market research firm Straits Research.
LS Eco Energy said that the company started the shipment of 220-kilovolt-class underground cables. The ultra-high-voltage cables will be used to connect the electricity infrastructure and the Thor offshore wind farm, scheduled to be built in the Danish North Sea some 22 kilometers (13.6) off the west coast of Thorsminde in Jutland.
When the construction is finished by 2027, the 1,080 megawatt-class renewable energy generation facility will annually produce enough electricity to power one million households.
"The global demand for power cables is increasing due to the construction of offshore wind farms, renewal of old electricity infrastructure, and establishment of data centers. We will improve our profitability by increasing the exports of high-value items such as ultra-high-voltage power cables," LC Eco Energy CEO Lee Sang-ho said in a statement on Thursday.
reporter
Park Sae-jin
swatchsjp@ajunews.com
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