NKT signs EUR 3.5bn power cable deal for German energy transition.
NORDIC BUSINESS REPORT-September 29, 2023-NKT signs EUR 3.5bn power cable deal for German energy transition
(C)2023 M2 COMMUNICATIONS http://www.m2.co.uk
NKT A/S (CPH:NKT), a Denmark-based supplier of cables and cable accessories to the energy sector, said on Friday that it has secured a framework agreement and order for power cable projects with German transmission system operator 50Hertz.
Valued at approximately EUR3.5bn, this order represents a new company record for NKT.
Under the multi-year framework agreement, NKT will deliver 525 kV XLPE high-voltage direct current (HVDC) on- and offshore power cable systems, supporting Germany's ongoing transition to renewable energy sources. The agreement encompasses firm contracts for specific turnkey projects that are integral to Energiewende, Germany's long-term strategy for achieving renewable energy dominance by 2050.
NKT's high-voltage order...
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