Wind Energy – Korea
Balmoral Comtec, a Balmoral Group company and a leading provider of buoyancy, protection and insulation services to the global offshore energy market, has signed a memorandum of understanding (MoU) for cooperation in the floating offshore wind power sector with LS Cable & System, one of the biggest cable manufacturers worldwide, and LS Marine Solution, Korea’s leading marine solution provider to collaborate in the floating offshore wind sector.
This agreement follows LS Cable & System’s recent MoU with Norway’s Equinor for cooperation on the 750 MW Bandibuli/Firefly floating offshore wind project in South Korea.
LS Cable & System has developed dynamic cables designed to operate stably in harsh offshore environments, a first in Korea.
Through this MoU, the Korea-based companies aim to collaborate with Balmoral Comtec to establish a secure and optimised operational system for floating offshore wind cables. Additionally, LS Marine Solution will enhance installation efficiency and ensure stable maintenance, supporting the successful execution of the project.
South Korea’s Ministry of Trade, Industry, and Energy (MOTIE) has included floating offshore wind power for the first time in its 2024 Fixed Price Contract Competitive Bidding for Wind and Solar Power Facilities. As a result, Equinor’s Bandibuli Project was selected, and LS Cable & System has partnered with Equinor to gain an early market advantage.
