NKT has been awarded two turnkey projects in Germany under the existing multi-year framework agreement with TenneT, a Dutch-German transmission system operator. These projects are part of TenneT’s ambitious 2GW Program, which is considered one of the most significant infrastructure initiatives in Europe’s energy transition.
TenneT has selected NKT to provide 525 kV XLPE high-voltage direct current (HVDC) on- and offshore power cable systems for two projects, LanWin7 and a part of NordOstLink, under the framework agreement announced in Company Announcement No. 14 on May 5, 2023.
“We are thrilled to once again be selected as a key partner for TenneT’s ambitious 2GW Program. This confirms our strong partnership and NKT’s leading position in the high-voltage DC power cable market. We look forward to applying our advanced power cable technology to these two additional projects in Germany, which will enable the energy transition in Europe by facilitating the efficient transport of wind power from the North Sea to the onshore grid,” said Claes Westerlind, President and CEO of NKT.
The two projects awarded to NKT are LanWin7 and a portion of NordOstLink. The contracts are expected to be called off in 2026-27 and are valued at approximately EUR 1bn. This amount covers cable design, engineering, production, as well as both on- and offshore installation. With these additions, NKT has now secured five projects under the framework agreement, which runs until 2028 with a potential extension until 2031. The award does not impact the 2024 financial outlook for NKT.
The LanWin7 system is one of the offshore grid connection systems planned to connect to the multi-terminal hub in the Pöschendorf area of Schleswig-Holstein. This hub, called NordHub, will integrate multiple direct current (DC) and alternating current (AC) connections, allowing for the efficient transportation of wind power from the North Sea to the onshore grid.
The NordOstLink (partial) project involves the laying of additional cables to enhance the grid’s capacity and flexibility, further supporting the region’s transition to renewable energy sources.
The call-offs for these contracts are expected in 2026-27, with commissioning anticipated in 2033-34.
Source: NKT
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