LS Eco Energy signs deal for superconducting cable project in Vietnam

April 05, 2024 | 11:11

(0) user say

South Korea's LS Eco Energy has signed a business agreement with the Institute of Energy (IoE) to expand the use of superconducting cables.

LS Eco Energy signs deal for superconducting cable project in Vietnam

The two sides plan to seek business opportunities to install superconducting cables on Vietnam's power grid.

Lee Sang-ho, CEO of LS Eco Energy, said, “In Vietnam, electricity shortages will worsen due to urbanisation and the construction of large-scale data centres by global companies. We will rely on our existing experience operating in Vietnam and LS Cable's high technology to expand our business in the country."

In 2019, LS Cable & System succeeded in commercialising the world's first superconducting cable at the Heungdeok-Singal substation area in Yongin-si, Kyunggi-do. To date, this is the only transmission line in the world that is in commercial operation.

Superconducting cables take advantage of the phenomenon of superconductivity, in which resistance disappears at low temperatures, to maximise transmission efficiency. If capacity expansion is needed due to overload, just replace the cable, and transmission capacity can be increased by more than five times.

In addition, when building a new urban area, the cost of rough construction can be reduced to less than 1/20 by replacing 3m electrical pipes with metre-long pipes. This system does not produce electromagnetic waves so there are no impacts on the environment. At the same time, the scale and number of substations and transmission towers can be reduced.

LS Eco Energy diversifies its rare earth supply to Vietnam

On January 10, South Korea's LS Eco Energy announced that it has signed a rare earth oxide purchase agreement with Vietnamese mining company Hung Thinh Minerals.

SK Ecoplant ties up with BCG Energy to co-develop 700MW of renewable energy

SK Ecoplant, the environment and energy arm of SK Group, signed a memorandum of understanding (MoU) with BCG Energy, a subsidiary of Bamboo Capital Group, on March 22 to jointly develop renewable energy projects in Vietnam.

AC Energy to acquire 49 per cent stake in Super Energy Corporation's solar platform

AC Energy Corporation (AC Energy), through its wholly-owned subsidiary, AC Energy Vietnam Investments Pte. Ltd. (ACEV) and Super Energy Group Hong Kong Co., Ltd. have formed a strategic partnership to develop and operate renewable energy projects across ASEAN, especially Vietnam.

By Thanh Van

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional