Balmoral Comtec Joins Equinor’s Firefly Floating Wind Project

Balmoral Comtec, a subsidiary of offshore energy supply chain company Balmoral, has signed a memorandum of understanding (MoU) with South Korea-based LS Cable & System and LS Marine Solution to collaborate on Equinor’s Firefly floating wind project.

This agreement builds on LS Cable & System’s recent MoU with Norwegian energy company Equinor, which focuses on cooperation for the 750 MW Firefly floating offshore wind project in South Korea.

For the first time, South Korea’s Ministry of Trade, Industry, and Energy has included floating offshore wind power in its 2024 fixed-price contract competitive bidding for wind and solar power projects. The Firefly project was selected, giving LS Cable & System an early advantage in the emerging market through its partnership with Equinor.

LS Cable & System has also played a key role in developing South Korea’s first dynamic cables, designed to withstand harsh offshore conditions while ensuring stable operation.

As part of this new collaboration, the two Korean companies will work alongside Balmoral Comtec to develop an operational system for floating offshore wind cables. Additionally, LS Marine Solution will focus on improving installation efficiency and ensuring 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.

Also known as Bandibuli, the Firefly project is a 750 MW floating offshore wind farm that will utilize Siemens Gamesa’s 15 MW large-scale wind turbines. The project spans two 75 sq km areas, located 70 km off the coast of Ulsan.