LS GreenLink USA, Inc. (“LS GreenLink”), a wholly-owned subsidiary of LS Cable & System Ltd. (“LS C&S”), has finalized the acquisition of a 96.6-acre site in Chesapeake, Virginia. The site went under contract in November 2023, with the acquisition closing on March 25, 2025. The property, purchased from International Bio-Energy Virginia Real Estate, LLC, represents a key milestone in LS GreenLink’s plan to establish the largest submarine power cable manufacturing facility in the United States.
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96.6-acre site formerly known as The Chesapeake Deep Water Terminal in Chesapeake, Virginia
This strategic real estate acquisition highlights LS GreenLink’s commitment to establishing a state-of-the-art manufacturing hub to support critical infrastructure projects. The Chesapeake facility, expected to be fully operational by 2028, will serve as a key site for producing high-voltage direct current (HVDC) submarine power cables, essential for connecting offshore wind farms and enhancing the resilience and capacity of power transmission networks.
Patrick Y. Shim, Managing Director of LS GreenLink, stated, “The acquisition of this site marks a pivotal milestone in the development of our new facility, which will play a key role in advancing global energy infrastructure. This facility will be critical in the production of essential power cables for a range of applications worldwide.”
LS GreenLink’s first phase of development, expected to involve over $681 million in capital investment for the new manufacturing facility in Chesapeake, Virginia, is set to break ground in April 2025. The project is anticipated to complete construction by the third quarter of 2027 and become fully operational by the first quarter of 2028. The facility will include a 750,000-square-foot manufacturing area and a 660-foot VCV tower, which is expected to be the tallest structure in the Commonwealth of Virginia. Initially, LS GreenLink will develop approximately half of the site, reserving the remainder for future phases of development.
International Bio-Energy Virginia Real Estate, LLC was advised by Woods Rogers Vandeventer Black PLC and Jones Lang Lasalle Inc.
LS C&S and LS GreenLink were advised by K&L Gates LLP on the transaction. Akin Gump Strauss Hauer & Feld LLP, Hunton Andrews Kurth LLP, and Williams Mullen assisted on the transaction, along with Evergreen Location Strategies LLC, S.L. Nusbaum Realty Co., and Belcon Advisors.
About LS Cable & System Ltd.:
Founded in 1962, LS Cable & System Ltd. (“LS C&S”) is a global leader in power and communication cables and systems. With over 6,500 employees and 35 subsidiaries in 17 countries, LS C&S continues to drive innovation in energy transmission and distribution. For more information, visit www.lscns.com.
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Contacts
LS GreenLink USA, Inc.
Patrick Y. Shim, Managing Director
press@lsgreenlink.com