LS

<Photograph> LS Cable & System President & CEO Roe-Hyun Myung and Northland Power Korea CEO Seung-soo Han pose, after signing an MOU for cooperation in the offshore wind power business at the Seoul Office of LS Cable & System on November 3.

■ Cooperation in domestic offshore wind power generation EPC business
■ LS Cable & System expects to supply more submarine cables

LS Cable & System (President & CEO Roe-Hyun Myung) announced on November 3 that the company entered into an MOU for cooperation in the domestic offshore wind power business with Northland Power, a Canadian new and renewable energy developer.

With this MOU, the two companies prescribed the role of each company and various matters necessary for the offshore wind power generation business, and agreed to cooperate in related EPC (design, procurement and construction).

Northland Power has been building and operating new and renewable energy infrastructure such as wind power and photovoltaics, in Europe since its establishment in Toronto in 1987, and has recently been making full-fledged efforts to advance into Asian countries such as Taiwan and Japan.

LS Cable & System has continued to build cooperative relations. For example, it was recently selected as a priority supplier of submarine cables for Northland Power’s 1GW Hai Long Wind Farm Project in Taiwan.

Since Northland Power is also expanding its business in Korea, e.g., the 1.3 GW Dado Ocean Wind Power Project in Jeollanam-do, LS Cable & System expects to see its sales grow.

LS Cable & System President & CEO Roe-Hyun Myung said, “With this MOU, we will comply with the government's new and renewable energy policy and contribute to job creation.”

“Cooperation with LS Cable & System laid the foundation for the smooth operation of the offshore wind power business in Korea,” said Seung-soo Han, CEO of Northland Power Korea “We will take the lead in supplying environmentally friendly renewable energy.”