Original Korean article: Green Economy News
Europe's aging power grid replacement and renewable energy expansion are signaling large-scale investment, prompting LS to accelerate its market strategy.
According to industry sources on the 20th, the European Union estimates that approximately 584 billion euros in investment will be needed in the region's power grid by 2030. About 40% of the EU's distribution network has been in place for over 40 years, and the need for grid expansion is growing due to renewable energy expansion and electrification. The EU Commission estimates that an additional 730 billion euros will be needed for distribution networks and 477 billion euros for transmission networks by 2040.
HVDC Investment Driven by Offshore Wind
In particular, HVDC investment is increasing, centered on North Sea offshore wind expansion. As offshore wind farms move farther from land and grow in scale, demand for HVDC, which is advantageous for long-distance, high-capacity transmission, is rising. Dutch transmission operator TenneT is pursuing successive 2GW-class HVDC projects connecting North Sea offshore wind power to land.
LS Cable & System has already entered the European HVDC market. LS Cable & System is participating in TenneT's 525kV HVDC cable project as part of a consortium with Jandel and Dennis.
Exhibition Participation and Market Expansion
LS Electric and LS Cable & System will jointly participate in CIGRE 2026, held in Paris, France starting on the 23rd. LS Electric will showcase HVDC and direct current (DC) distribution solutions for AI data centers, while LS Cable & System will present HVDC submarine and underground cables, aiming to expand orders in Europe.
An LS Electric official said, "With this exhibition participation, both LS Cable & System and LS Electric will expand the growth momentum of power infrastructure business carried forward in North America to Europe."
"Based on differentiated technological capabilities and business experience in the rapidly changing global power market, we will continue to discover new growth opportunities and maximize synergies among LS affiliates to accelerate our push into the European market," the official said.
