Taihan Cable & Solution has won a $77.3 million contract for the supply of subsea cables for the 365 MW Yeonggwang Nakwol offshore wind farm in South Korea, and purchased what is said to be the country's only cable-laying vessel (CLV) for the offshore wind market.
Under the $77.3 million contract, South Korean company Taihan will be responsible for supplying inter-array subsea cables that connect 64 offshore wind turbines, each rated at 5.7 MW, installed at the Yeonggwang Nakwol wind farm, and the cables connecting them with a new substation on Songi Island.
The cables will be produced at the company’s facility in Dangjin, which is expected to start operations early in 2024.
The contract, secured on December 17, 2023, follows the one Taihan Cable & Solution won in October 2023, when the company was selected as a preferred subsea cables supplier for the 532 MW Anma offshore wind project.
“With the Yeonggwang Nakwol project, we will contribute to the stabilization of the subsea cable supply chain by actively participating in various offshore wind power projects being advanced in Korea, and increase export competitiveness by using it as a stepping stone for expansion into the growing offshore wind power market in Europe and the United States,” Taihan said.
‘Korea’s only CLV for offshore wind market’
Taihan's CLV for offshore wind market (Credit: Taihan)
On December 20, Taihan bought a 6,200-ton CLV, said to be Korea’s only cable layer for offshore wind sector, for $38.5 million,
The CLV is equipped with advanced features such as self-propulsion and a dynamic positioning system (DP2). The vessel can load up to 4,400 tons of underwater cables at once, and is able to sail at 9 knots on average.
This acquisition positions Taihan as total solution provider covering both underwater cable production and installation.
Taihan is planning to make full use of this vessel first for the Yeonggwang Nakwol offshore wind farm, being developed by Nakwol Blue Heart Co, and later, for the Anma project.
In January 2024, the company will collect suggestions from its employees for the official naming of the vessel.
“As this CLV meets the global standard for the European offshore wind power market, it opens up various business opportunities in the global market,” Taihan said.
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