General – Power Cables
NKT has been awarded a combination of five on- and offshore power cable projects embedded in a long-term framework agreement by the German TSO 50Hertz.
With a combined value of approx. EUR 3.5bn, the order is a new company record for NKT.
50Hertz has selected NKT to provide several 525 kV XLPE high-voltage direct current (HVDC) on- and offshore power cable systems for the ongoing development of the German power grid.
The award is a multi-year framework agreement with firm contracts for five specific turnkey projects enabling the German transition to renewable energy. The five projects have a combined order value of approx. EUR 3.5bn sets a new company record for NKT, increasing the high-voltage order backlog to more than EUR 10bn.
NKT President and CEO Claes Westerlind says: “This is a historic order and a major milestone for NKT, and we are very excited to continue the collaboration with 50Hertz in their ambitious development of the 525 kV HVDC transmission grid. We are looking forward to further strengthening this relationship, where we are currently executing the cable projects for the two SuedOstLink transmission lines and the offshore cable link Ostwind 2. With this record award, we confirm the strength and versatility of our HVDC power cable program, our strong position in the market and continue to be a key supplier for the German Energiewende.”