LS GreenLink USA, a subsidiary of LS Cable & System, has chosen a 98-acre brownfield site in Chesapeake, Virginia, for its new advanced submarine power cable manufacturing facility.
Situated strategically within the Hampton Roads Beltway along the Elizabeth River, this location will bolster LS GreenLink’s capacity to fulfil the worldwide need for submarine power cables.
LS GreenLink is investing more than $680m in the new facility as a key component of LS C&S’s extensive global expansion strategy.
LS Cable & System president and CEO Bon-Kyu Koo said: “This cutting-edge facility underscores our dedication to advancing technology and engineering. It will not only bolster our capacity to meet the increasing global demand for submarine power cables but also establish us as a leader in the industry.”
In March 2024, the project received $99m in investment tax credits under Section 48C of the Inflation Reduction Act of 2022, commonly referred to as the ‘Qualifying Advanced Energy Project Credit Program.’ LS GreenLink is also benefiting from financial incentives from the Commonwealth of Virginia and the City of Chesapeake, coordinated through the Virginia Economic Development Partnership and the Chesapeake Economic Development Authority.
The Virginia Economic Development Partnership, in collaboration with the City of Chesapeake and the Hampton Roads Alliance, played a pivotal role in attracting this project to Virginia. Governor Glenn Youngkin approved a $13.2m grant from the Commonwealth’s Opportunity Fund to support Chesapeake in this endeavour. Furthermore, LS GreenLink qualifies for state benefits under The Port of Virginia Economic and Infrastructure Development Zone Grant Program.
Governor Glenn Youngkin said: “LS GreenLink’s investment in Virginia will showcase the Commonwealth as a leader in offshore wind industry in manufacturing.
“LS GreenLink has recognised that Virginia has the skilled talent, world-class logistics location, and business environment that will allow it to serve its growing global customers for submarine power cables.”
The facility anticipates hiring more than 330 employees and commencing operations by the end of 2027. This initiative signifies a substantial investment in the region, promising to bolster the local economy and advance renewable energy infrastructure on a global scale.
