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LS Cable & System becomes first Korean company to supply submarine cables to Brazil 2019-02-25


 

■ Supplying extra-high-voltage submarine and underground cables
■ Laying foundation to expand throughout Latin American markets
 
LS Cable & System (President & CEO Roe-Hyun Myung) announced on the 25th that it would be the first Korean company to supply submarine cables to Brazil.
 
LS Cable & System will sign a contract with Brazil’s energy transmission company ISA CTEEP to supply 100km of extra-high-voltage submarine and underground cables to Santa Catarina Island, a vacation spot in southern Brazil.
 
ISA CTEEP is responsible for 25% of the total power transmission of Brazil, and 60% of total power transmission of the Southeastern region. This project will build a new power grid to solve the local power shortage problem.
 
The company said that its successful completion of the first offshore wind farm in the US and large submarine power grid projects throughout the Americas, including Canada and Venezuela, were recognized as significant achievements that helped win this contract.
 
As its power grids are rather old, and as more than 60% of Brazil's power depends on hydroelectric generation using the Amazon River, Parana River, Xingu River, etc, if there is a drought then power shortages can be prolonged. Accordingly, the Brazilian government is looking to expand its power grids and diversify its power supply to include wind and solar. The expected result will be an expanded and more diversified power market.
 
“This first supply of submarine cables to Brazil laid down the foundation for expanding into the Brazilian market,” said Mr. Roe-Hyun Myung, CEO of LS Cable & System. “Also, we are planning to make our best efforts to advance into neighboring countries like Columbia through cooperation with ISA CTEEP whose large shareholder is a Columbian power company.”
 
LS Cable & System, Korea’s only manufacturer of submarine cables for power transmission, has become one of the global top 3 cablemakers by supplying submarine cable products to large projects in Europe, the Americas and Asia.

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