LS Cable & System Sets Up Sales Entity to Enter Central & South American Markets

LS Cable & System President & CEO Myung Roe-hyun poses with President Han Seung-soo of Northland Power Korea, after LG C&S signed an MOU for cooperation in the domestic offshore wind power business with Northland Power, a Canadian new and renewable energy developer at the former’s Seoul office at Yongsan Tower on Nov. 3. (Photo: LS C&S)

LS Cable & System (LS C&S) has established an incorporated power cable sales entity to set up a foothold in Central and South America, which have a combined population of 500 million.

LS C&S inaugurated LS Cable & System Panama S.A., with a 55 percent stake investment, the company said on Nov. 21. LS Cable & System Panama S.A is LS C&S’s first incorporated entity in Central and South America.

The cable maker also has an entity in the United States, UK, Australia and Poland.

LS C&S has been evaluated to have a competitive edge in Central and South America. LS C&S has a track record of having won and implemented large-sized undersea power cable network projects in the North and South America, such as the United States, Canada and Venezuela.

An LS C&S official said starting with the establishment of LS C&S Panama, LS C&S will enter the Central and South American power cable markets.

Earlier, LS C&S has focused on exploring the Central and South America as LS C&s became the first Korean cable maker to have supplied undersea cables to Brazil.

At that time, LS C&S struck a deal with ISA CTEEP to supply high-voltage undersea cables, totaling 100 km in length, to Santa Catarina Island, a resort island in southern Brazil.

LS Cable & System Inks Offshore Wind Business MOU with Canada’s Northland Power

LS Cable & has signed an MOU for cooperation in the domestic offshore wind power business with Northland Power, a Canadian new and renewable energy developer.

Under the MOU, the two companies agreed to cooperate in related EPC (design, procurement and construction).

Northland Power has been building and operating new and renewable energy infrastructure such as wind power and photovoltaics, in Europe since its establishment in Toronto in 1987, and has recently been making full-fledged efforts to advance into Asian countries such as Taiwan and Japan.

LS Cable & System has continued to build cooperative relations. For example, it was recently selected as a priority supplier of submarine cables for Northland Power’s 1GW Hai Long Wind Farm Project in Taiwan.

Since Northland Power is also expanding its business in Korea, e.g., the 1.3 GW Dado Ocean Wind Power Project in Jeollanam-do, LS Cable & System expects to see its sales grow.

LS Cable & System President & CEO Roe-hyun Myung said, “With this MOU, we will comply with the government’s new and renewable energy policy and contribute to job creation.”

“Cooperation with LS Cable & System laid the foundation for the smooth operation of the offshore wind power business in Korea,” said Han Seung-soo, CEO of Northland Power Korea “We will take the lead in supplying environmentally friendly renewable energy.”

LS Cable & System Develops Next-Generation Superconducting Cable

LS Cable & System recently succeeded in developing a next-generation superconducting cable. The superconducting cable has almost no power loss during transmission and is capable of large capacity transmission.

Since it does not generate electromagnetic waves, it is called a representative environmentally friendly energy product.

This next-generation product dramatically improved the structural design of the superconducting layer, and reduced the production cost by more than 10% while increasing the power transfer rate by more than 20%.

LS Cable & System developed the 23kV 3-phase coaxial superconducting cable through R&D for about 2 years jointly with the Korea Electric Power Research Institute at the Gochang Power Testing Center of KEPCO, and obtained the International Electrotechnical Commission (IEC) standard.

Three companies, including LS Cable & System, have successfully developed it worldwide, but LS Cable & System is the first to obtain international certification.

According to the industry, KEPCO is known to plan to apply this next-generation model to a superconducting platform business starting next year. After LS Cable & System commercialized superconducting cable for the first time in the world in 2019, it is also expected to lead the commercialization of next-generation products.

“The superconducting platform business can reduce the size of substations to less than one tenth of the existing ones, and reduce deployment costs by more than 30%,” said an official of LS Cable & System. “It’s usage will increase mainly in urban areas where it is difficult to expand power facilities.”