NKT secures framework agreement and record order for five German power cable projects with production in Karlskrona.

NKT has been awarded a combination of five onshore and offshore power cable projects under a long-term framework agreement by the German power system operator, 50Hertz.

With a total value of approximately 3.5 billion euros, the order is a new record for NKT. Press releases and events: NKT secures framework agreements and record orders for five German power cable projects with production in Karlskrona.

Increased focus on sustainability

To ensure a strong sustainability profile for upcoming projects, 50Hertz has included environmental cost indicators as important selection criteria in the projects awarded to NKT. Both parties agree on the highest standards of environmental focus in the projects, creating a continuous incentive to reduce the carbon footprint of power cable systems.

To reduce carbon dioxide emissions, NKT will produce the power cables at its high-voltage factories in Cologne and Karlskrona. Both facilities are powered by renewable electricity and are located near installation sites in the North Sea, Baltic Sea, and Germany, reducing the carbon footprint from transportation.

Additionally, NKT will perform the installation of the submarine cable using the cable-laying vessel NKT Victoria, which is one of the most energy- and fuel-efficient in the industry, and/or the new market-leading cable-laying vessel that will be operational from 2027. With project allocations, 50Hertz continues the ambitious expansion of its high-voltage grid and increased production of energy from offshore wind power as a key part of accelerating Energiewende – Germany’s long-term strategy for transitioning to renewable energy by 2050.

The order does not change NKT’s financial outlook for 2023.

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