South Korea’s LS Cable & System announced that it has signed a contract with TenneT Offshore to supply high-voltage direct current (HVDC) cables worth about

1.5 trillion won ($1.2 bil1ion).

A press release said that LS Cable & System, in a consortium with Belgian construction companies Jan De Nul and Denys, has won a total of four projects connecting the North Sea to Germany. Under two of the contracts, LS Cable & System will supply submarine and underground cables starting in 2026. The remaining two contracts are expected to be awarded sequentially through 2026.

The projects stem from a 2022 agreement by Denmark, the Netherlands, Belgium and Germany to jointly install 65 gigawatts (GW) of offshore wind power by 2030. TenneT will participate in the project, which will supply up to 35 million homes with green wind energy.

“Although power grid construction projects are becoming more active around the world, HVDC cables require large-scale investment and high technical skills, so a small number of global wire companies such as LS Cable & System occupy most of the market,” said an official from LS Cable & System.