In 2021, In addition to their usual selection of polyurethane sheathing materials, Hydro Group added a number of new cable jacket alternatives. These are intended to boost the company's ability to serve a wide range of defense, renewable energy, and oil and gas applications.
LS Cable & System announced that, in 2021, the company was selected as a preferred bidder for a KRW200 billion submarine cable project by CDWE (CSBC-DEME Wind Engineering), Taiwan's first EPCI offshore wind power construction company, and it would supply submarine cables to the Hai Long Offshore Wind Farm until 2025.
Submarine power cable is used to supply electricity and power to the subsea machinery and equipment used across different platforms, such as offshore oil & gas facilities, naval subsea bases, offshore complexes, offshore wind power-generating facilities, and telecom industry. It also finds usage in accomplishing long route data and power transfer between island/country inter-connection. Factors, such as the continuous expansion of offshore oil & gas platforms, coupled with increasing deployment of wind farms, high investments by government departments and private firms, integration of energy-efficient operational environment are expected to drive the global submarine power cable market during the forecast period. In addition, the increasing fund supply for the development of sustainable electrical infrastructure with grid integration of renewable systems will enhance the growth of this market.
