Balmoral Comtec, a subsidiary of offshore energy supply chain firm Balmoral has signed a memorandum of understanding (MoU) for work on Equinor’s Firefly floating wind project with South Korea-based LS Cable & System and LS Marine Solution.
This agreement follows LS Cable & System’s recent MoU with Norwegian energy giant Equinor for cooperation on the 750 MW Firefly floating offshore wind project in South Korea.
South Korea’s Ministry of Trade, Industry, and Energy has included floating offshore wind power for the first time in its 2024 fixed-price contract competitive bidding for wind and solar power facilities. The Firefly project was selected and LS Cable & System’s partnership with Equinor will give it an early market advantage.
The company was also responsible for developing the first Korean dynamic cables designed to operate stably in harsh offshore environments.
Through the new agreement, the two Korean companies will work with Balmoral Comtec to establish an operational system for floating offshore wind cables. Furthermore, LS Marine Solution will enhance installation efficiency and ensure stable maintenance.
“Although floating offshore wind currently accounts for only about 1% of the market, it is expected to grow rapidly,” an LS C&S official stated.
The Firefly project, otherwise known as Bandibuli, is a 750MW floating offshore wind farm which will be utilising Siemens Gamesa’s 15MW large-scale wind turbines. The wind farm comprises two 75 sq km areas, 70 km off the coast of Ulsan.
