LS Eco Energy is relocating its headquarters from Seoul to Donghae City, Gangwon State, to further its foothold in the global renewable energy market, and that focus could also lead the business—part of LS Cable & System—to establishing a manufacturing presence in Vietnam.

Per a report in BusinessKorea, the decision was approved at an April 3 board meeting to accelerate the company’s expansion into the submarine cable business, a critical component of offshore wind power infrastructure. The new headquarters will be situated at the Donghae facility of LS Cable & System, which specializes in producing submarine and industrial cables.

The relocation to the base for LS Cable & System will make it easier for the two companies to collaborate in cable design, joint project bidding and related production activities. High-voltage direct current (HVDC) cables are particularly crucial for long-distance transmission due to their efficiency. The global submarine cable market is poised for substantial growth, projected to increase from $4.9 billion in 2022 to $21.7 billion by 2029, according to market research firm CRU.

In February, LS Eco Energy officials engaged in discussions with Nguyen Hong Dien, Vietnam’s minister of industry and trade, and state-owned enterprises like PetroVietnam during their visit to Korea. These talks focused on potential cooperation in transmitting power from Vietnam’s offshore wind farms to Singapore. The company is considering joint participation with LS Marine Solutions in this ambitious project. LS Cable & System is also discussing possible options with PTS—a subsidiary of the PetroVietnam Group—for establishing submarine cable production facilities in Vietnam.

On March 26, LS Eco Energy amended its articles of association during a shareholders’ meeting to include offshore wind and energy-related businesses. This could help the company expand its portfolio in response to policy trends such as the Special Act on Offshore Wind Power and initiatives like the West Coast Energy Highway.

CEO Lee Sang-ho described Southeast Asia as a strategically important renewable energy hub. “As Southeast Asia, including Vietnam, emerges as a renewable energy hub, submarine cables are gaining attention as key infrastructure. We will accelerate our entry into the global market with the relocation of our headquarters.”

China’s Orient Cable (NBO) has reported two offshore power cable contracts, including one that it says sets an industry record for an extra-high-voltage offshore route.

NBO, which was part of a consortium with partner China Southern Power Grid, said that the project developed by Energy China calls for a 500 kV 2500 mm subsea cable system that can provide 2 GW transmission capacity. The route length is approximately 118 km, which the company notes sets a record for longest offshore distance.

“This achievement further builds on our legacy and long-lasted R&D investment ... (and can) be considered as another base to standardize 500 kV HVDC OWF technology,” the release said. The project marks “a critical step in China’s renewable energy revolution and highlights the NBO’s unmatched engineering expertise in extra high-voltage, long-length and high-performance cable systems.”

The contract follows a prior related order for a 500 kV extra high-voltage AC (EHVAC) offshore wind subsea cable for a 92-km-long cable route. The project will have a transmission capacity of 1 GW for a project in Guangdong Province, China, developed by Energy China. That project was valued at over €240M, including the two circuits 60 km 500 kV three-core export cables.

“This innovative 500 kV subsea cable is the first (such)commercial application for the offshore wind farm in the world,” the release said. This is another key milestone for Orient Cable in the high-end EHVAC power transmission technology following the successful delivery of 500 kV 1 x 1800 mm subsea cable project 500 kV HVAC interconnection project for China state grid in 2019.

In January, Orient Cable (NBO) was named as one of the suppliers to Ørsted and PGE’s 1.5 GW Baltica 2 offshore wind farm in Poland. Orient Cable will deliver 170 km of 66 kV inter-array cables for the Polish offshore wind project.

Tri Star Metals, LLC, a U.S.-based stainless and nickel alloy mill and distributor, announced that it has entered into a definitive agreement to acquire Siri Wire, which is based in Danielson, Connecticut.

A press release said that Siri Wire, a well-established regional stainless and nickel alloy re-draw mill with strong distribution capabilities, will continue to operate as an independent mill and distributor, led by Bryan and David Hitchcock. Bryan Hitchcock will remain president of Siri Wire and will join the Tri Star Metals Executive Committee.

The addition of Siri Wire will expand the capabilities of Tri Star Metals’ metallurgical, engineering, production, and IT teams, both for operational efficiencies and innovation. Both Siri Wire and Tri Star Metals will benefit from an expanded portfolio of products and sizes, leveraging each company’s manufacturing strengths. Further, significant capital expenditures will be allocated to implement advanced efficiencies and technologies developed at Tri Star Metals, improving product quality and performance. “This acquisition continues the tradition of integrating family-run businesses into the Bender Wire Group.”

“We are very pleased to welcome the Siri Wire team into our family,” said Jay Mandel, President and CEO of Tri Star Metals. “This strategic combination of manufacturing and distribution within the U.S. will enable us to better serve both TSM and Siri Wire’s customers. We have known the Hitchcock family for over 20 years and have always been impressed with their leadership and stewardship of Siri Wire.”

“Both my father and I are excited to join Tri Star Metals and the Bender Wire Group,” said Bryan Hitchcock, President of Siri Wire. “This partnership allows us to offer greater engineering and metallurgical support to our customers while expanding our product offerings throughout the region. Additionally, we look forward to growing our manufacturing operations and providing more opportunities for our dedicated workforce.”

“We are excited to welcome the team from Siri Wire into the Bender Wire Group,” said Ingo Bender, CEO of Bender Wire Group. “The American market has been an important part of our long-term global strategy to establish superior manufacturing and distribution capabilities near the core markets they serve.”

LS Eco Energy, a Vietnam-based cable manufacturer under Korea’s LS Cable & System, announced that it will supply power cables for a $150 million wind farm project in the Philippines.

Per a report in The Korea Herald and other publications, the company’s Vietnamese subsidiary, LS-VINA, will supply medium- and low-voltage cables for the Kalayaan 2 wind farm, a 100-megawatt project located in Laguna province, about 100 m southeast of Manila. Scheduled for completion in 2026, the wind farm is expected to provide clean energy to up to 85,000 households.

“As the Philippine government aims to raise its renewable energy share to 50 percent by 2040, large-scale solar and wind projects are actively underway, with increasing involvement from private businesses,” said an LS official.

As the largest power cable manufacturer in Vietnam, LS Eco Energy is accelerating its expansion beyond national borders. In early March, the company secured a contract to supply power cables for the Philippines’ largest internet data center, the STT Fairview Campus.

It is also in negotiations for a cross-border renewable energy project that will supply Singapore with energy generated in other Southeast Asian nations, the company said. Citing growing regional demand for power infrastructure fueled by renewable energy development, LS Eco Energy plans to actively expand its involvement in major clean energy projects across Southeast Asia.