LS Cable & System Cancels $200M Contract for Anma Offshore Wind Project
LS Cable & System and LS Marine Solution have canceled a $200 million contract for the Anma offshore wind project due to the developer's financial issues. This decision impacts the progress of a planned 532MW wind farm in South Jeolla Province.
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LS Cable & System and its subsidiary LS Marine Solution have terminated a supply contract worth approximately $200 million for the Anma offshore wind project, as of April 27. The contract breakdown included 177.1 billion won for LS Cable & System and 94 billion won for LS Marine Solution.
The cancellation is attributed to financial difficulties of the project developer, making continuation infeasible. The project aims to establish a 532MW wind farm in South Jeolla Province, covering around 83.9 million square meters. LS Cable & System expressed willingness to explore future cooperation should the project resume.
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