KEPCO E&C and LS Cable & System have joined forces to enter the Korean floating offshore wind power market.
KEPCO E&C struck an MOU to implement floating offshore wind power projects with LS Cable & System on May 11 and they began to promote cooperation in a full-fledged fashion.
Under the deal, both sides aim to build a one-stop package model encompassing the whole process of floating offshore wind power projects, ranging from planning to design and construction.
Both companies agreed to concentrate their capabilities on three key areas to preempt rising demand for floating offshore wind power – an initial stage engineering, such as cable system design optimization and safety consideration, power grid optimization and EPC turn-key implementation, smart O&M platform development and commercialization.
Amid recent trends including expanding of renewable energies, offshore wind power generation is expanding into deep-seas areas beyond coastal districts.
Subsequently, securing high-difficulty floating design technologies, such as dynamic cables designed to ensure complex deep-seas environment conditions, such as sea currents and waves has emerged as the business’s core challenge.
Both companies will combine their core capabilities to solve these technological tasks.
KEPCO E&C proved its EPC capabilities by successfully dedicating the 100MW Jeju Hallim Offshore Wind Power Project in February 2025.
With the addition of LS C&S’s first developing of dynamic cables in Korea, both companies are expected to have powerful synergetic effects of integrating and designing, and optimizing of power grid and undersea cables from an initial stage.
Both companies plan to complete the localization of floating offshore design technologies and preempt the global market through cooperation.
They plan to come up with a new standard of the offshore wind power industry by building a one-stop package model and maximizing project efficient and minimizing structural risks.
KEPCO E&C CEO Kim Tae-kyun said, “Both companies will secure an exclusive competitive edge in the floating offshore wind power sector based on their own core technologies, and the cooperation is expected to serve as a significant opportunity to change the hegemony of the Korean offshore wind power industry and we will spearhead on ramping up energy security and the spread of renewable energies.”
KEPCO E&C Accelerates Efforts to Explore Vietnamese Offshore Wind Power Market
KEPCO E&C has agreed to jointly explore offshore wind power projects in Vietnam with a Vietnamese company on the occasion of President Lee Jae-myung’s recent visit to the Southeast Asian country.
The Korean company has been accelerating efforts to enter foreign markets, including Vietnam, following the implementing of domestic offshore wind power projects.
KEPCO E&C said on April 28 the company struck a joint development agreement on 115MW new offshore wind power farm projects with Minh Thach Group, a Vietnamese renewable energy project investment company, on April 23.
The agreement specifies details, such as the scope of new offshore wind power projects and commercialization.
If and when KEPCO E&C’s excellent engineering technology power and Minh Thach Group’s local development capabilities are combined, it will have synergetic effects.
KEPCO E&C’s overseas market exploration comes on the back of domestic achievements related to the implementation of domestic offshore wind power projects.
Earlier, KEPCO E&C has proved it technology power in a whole process, ranging from project development to EPC and trial operation by successfully completing the 100MW Jeju Hallim Offshore Wind Power Project in Korea.
KEPCO E&C landed the 88MW Aphae Offshore Wind Power Project in the fixed price bidding market following the Jeju Hallim Offshore Wind Power Project.
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