NKT signs major export cable preferred supplier agreement

NKT has entered into a Preferred Supplier Agreement (PSA) as the main contractor to deliver and install export cable systems on an unnamed European offshore wind farm.

Under the contract, NKT will deliver and install high-voltage DC on- and offshore export cable systems for the project.

The potential order for NKT will comprise the manufacture and delivery of more than 500 kilometres total production length of 320 kV DC offshore export power cables, accessories as well as installation by the cable-laying vessel NKT Victoria.

For NKT, the order is expected to have an estimated contract value of above EUR 250 million in market prices, equivalent to approximately EUR 200 million in standard metal prices.

A firm order is conditional upon final contract negotiations and that the project owners provide NKT a notice to proceed.

”This Preferred Supplier Agreement for another turnkey high-voltage DC offshore windfarm proves that the European move towards renewable energy has momentum and that NKT is a key contributor in this transformation,” NKT President and CEO Alexander Kara said.

”We expect the offshore wind segment to increase further in the years ahead, and with our proven technology, strong focus on sustainability in the entire value chain and proven track record we are well positioned to take active part in that growth potential.”