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LS Eco Energy’s Vietnamese production complex (LS Cable & System) |
LS Eco Energy, a subsidiary of LS Cable & System, announced Wednesday that it is supplying extra high voltage cables to Energinet, a Danish state-owned transmission system operator of electricity and natural gas, over the next three years in a deal worth $30.51 million deal.
The contract follows another Danish deal worth $13 billion signed earlier this month.
The demand for EHV cables has been growing substantially in Denmark thanks to the nation’s growing infrastructure projects -- particularly offshore wind parks and the conversion of overhead transmission lines to underground.
"Denmark is notable for its high demand for EHV cables in Europe, and we have continued to build trust with clients by stably supplying over 1,000 kilometers of cables," a company official said.
In a long-term partnership with Energinet over the past eight years, LS Eco Energy and LS Cable & System have established themselves as the leading suppliers of cables both below 170 kilovolts and above 220 kilovolts in Denmark, respectively.
LS Eco Energy attributes part of its success to a robust cross-selling strategy with LS Cable & System, focusing predominantly on the European market. This collaborative approach capitalizes on joint efforts with LS Cable & System and some 10 overseas subsidiaries, fostering mutual promotion and sales of flagship products.
"Europe's energy security initiatives have led to a surge in demand for cables throughout the European market. In partnership with LS Cable & System, we will further penetrate and expand the high-value EHV cable market,” said Lee Sang-ho, CEO of LS Eco Energy.
