LS Cable & System and LS Marine Solution have entered into a strategic partnership with UK-based marine engineering specialist Balmoral Comtec. On Feb. 13, the three companies signed a memorandum of understanding  at the LS Cable & System Seoul office in Yongsan, Seoul, to collaborate on the burgeoning floating offshore wind power market.

This collaboration follows the Ministry of Trade, Industry and Energy’s decision last year to include floating offshore wind power in the fixed-price contract competitive bidding for wind and solar power facilities. This policy shift led to the selection of Equinor’s “Firefly Project,” marking a pivotal moment for the industry. LS Cable & System is already working with Equinor to secure a foothold in this promising market.

Floating offshore wind power technology represents a significant advancement in renewable energy. Unlike traditional fixed-bottom wind turbines, floating turbines are anchored to the seabed using mooring lines, allowing them to be deployed in deeper waters where wind resources are stronger and more consistent. This technology opens up new areas for wind energy development, previously inaccessible due to depth constraints.

LS Cable & System has been at the forefront of this innovation, having developed Korea’s first dynamic cable for floating offshore wind power, capable of stable operation in harsh marine environments. The company plans to establish a safe operating system for these cables, optimized for marine conditions, in collaboration with Balmoral Comtec. Balmoral Comtec brings its expertise in cable protection systems, buoyancy solutions, and subsea infrastructure development, which are critical for the success of offshore wind projects.

LS Marine Solution will focus on maximizing the efficiency of installation and operation of floating offshore wind power cables, ensuring stable maintenance to support the project’s advancement. This partnership aims to address the technological and environmental challenges associated with floating offshore wind power, such as the need for robust and reliable cable systems.

A LS Cable & System official highlighted the potential for growth in this sector, stating, “The share of floating offshore wind power is still at about 1%, but it is expected to grow rapidly.” The Global Wind Energy Council supports this optimistic outlook, forecasting that the floating offshore wind power market will expand from 35GW in 2020 to 270GW by 2030.

Through the Firefly Project, LS Cable & System aims to secure core technologies and lead the market with continuous technology development and global cooperation. This strategic partnership with Balmoral Comtec is a step towards achieving that goal, positioning the companies at the forefront of the renewable energy revolution.

Source:Business Korea