Nexans invests 90 million euros to support the growth of offshore wind power in Europe
_PRESS RELEASE_
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Nexans invests 90 million euros in its Belgian plants in Charleroi and Erembodegem and its site in Calais, France, to support the growth of offshore wind and subsea interconnections
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This investment will cover the construction in Charleroi, Belgium, of a new 53 m tower for the insulation of land cables, as well as the upgrading of the site for the production of 525 kV land cables stipulated in the framework agreement concluded with TenneT.
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Nexans reaffirms its long-term strategy focused on electrification and its support for the development of renewable energy sources
Paris, September 12, 2024 – Nexans, a global leader in energy transition, announces a €90 million investment program to support the growth of offshore wind in Europe. This program includes the construction of a 53 m tower for the insulation of onshore cables at the Nexans site in Charleroi, Belgium, as well as the start of production of 525 kV HVDC onshore cables with a cross-section of 3,000 mm.2. In accordance with the terms of a framework agreement concluded in 2023, these are intended for the three major infrastructure projects currently being carried out by TenneT: BalWin 3, LanWin 4 and LanWin 2.
Nexans is pursuing a long-term strategy focused on electrification, which involves active support for the development of renewable energies. The announced investment is perfectly in line with this vision for the future, and supports our journey towards the next electrical revolution.
The investment plan aims to ramp up manufacturing processes, with the installation of a new cable line, a degassing system specifically designed for HVDC cables, and a new wire drawing line that will increase our production capacity for aluminium cables. While the bulk of the investments are targeted at the Nexans plant in Charleroi, the Group’s other sites will also benefit with the construction of a new HVDC laboratory in Calais, including a room entirely dedicated to testing 525 kV HVDC cables, and the installation of a new injection press in the electrical accessories plant, in collaboration with the teams in Erembodegem, Belgium. The investment program will begin in 2025 and will continue until the end of the works, scheduled for the end of 2026.
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In addition, the Nexans site in Charleroi will be connected to the Walloon navigable network and to the multimodal logistics platform project initiated by the metropolis, which will reduce its CO emissions by 85%.2 related to transport.
Pascal Radue, Executive Vice President Production and Transmission at Nexans, said: “We are very pleased to announce this investment plan, which strengthens our position as a leader in the energy transition. The ability to manufacture terrestrial cables up to 525 kV is a decisive factor that will keep the Group at the forefront of this transition for many years to come. We look forward to completing this critical upgrade of our production tools, in order to support the ever-increasing growth in global demand for electricity.”.
About Nexans
For over a century, Nexans has played a crucial role in the electrification of the planet and is committed to electrifying the future. With nearly 28,500 people in 41 countries, the Group is leading the way towards the new world of electrification: safer, sustainable, renewable, decarbonized and accessible to all. In 2023, Nexans generated 6.5 billion euros in standard sales. The Group is a leader in the design and manufacture of cable systems and services across four major business areas: Power Generation & Transmission, Distribution, Uses and Industry & Solutions. Nexans was the first player in its industry to create a Corporate Foundation to support actions to promote access to energy for disadvantaged populations around the world. The Group is part of the CDP Climate Change “A List” of world leaders in climate action. Nexans has also committed, as part of the Science Based Targets initiative (SBTi), to achieve “Net-Zero” emissions by 2050.
Nexans. Electrify the future.
Nexans is listed on the Euronext Paris market, compartment A.
For more information, visit the website www.nexans.com
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