3/4/2022 – NKT has entered into an agreement to acquire U.K.-based Ventcroft Ltd. to bolster its position in the European power cable market by adding the company’s fire-resistant cable technology to the portfolio.
A press release said that the acquisition was an important step in the NKT strategy to grow the business with a strong product portfolio including fire-resistant power cables, telecom power cables and building wires. It noted that there is a growing focus on such products in the construction industry. “We are pleased to welcome Ventcroft to NKT and add their leading technology to our portfolio and expect them to benefit from our broad reach across the European market as part of our growth journey,” said NKT Executive Vice President and Head of Applications Will Hendrikx.
“We are looking forward to starting a new chapter with NKT and the acquisition brings some interesting possibilities to create future growth for Ventcroft,” said Ventcroft owner and Chairman Frank Rotheram. At the website of the family owned business, located south of Liverpool, Ventcroft notes that it is the U.K.’s largest independent manufacturer of fire and security products. The company, founded in 1989 and based in Runcorn, Cheshire, supplies cable and electronic products to a global client base in more than 50 countries.
12/6/21 – NKT plans to extend its presence in Poland with a local execution hub that will prepare it for the market opportunities driven by the country’s green transformation in Poland.
A press release said that NKT is now expanding its local presence with an execution center to prepare for a growing demand for both on- and offshore power cables. The center will be located in Gdynia, Poland, close to the Baltic Sea where several offshore wind farms are expected to be located.
The execution center is not a production site but a hub from where a company can execute local projects, both onshore and offshore. “The idea is to first hire cable jointers for installation projects where they are connecting the produced cable lengths. At a later stage, the plan is to hire more project-oriented people to drive offshore wind projects, so the center development is linked to future projects we win in Poland,” a company spokesman said.
NKT expects to hire the first power cable jointers by the end of 2021 and will hire additional people to the execution center as the potential market opportunities emerge with the first offshore wind projects materializing in the coming years. With two existing manufacturing sites in Poland specializing in building wires, low-voltage power cables and PVC compounds, NKT is also well-positioned to meet the growing demand for power cables driven by the expected reinforcement of the Polish power grid.
“We already have a strong footprint in Poland, and it is natural for us to take steps to strengthen our position in the country with the new execution hub,” said NKT CEO Alexander Kara. He noted that NKT is preparing to support Poland’s national ambition to install up to 11 GW of offshore wind capacity in the Baltic Sea by 2040.
5/7/2021: NKT reports that it has been awarded a long-term frame agreement with French Transmission System Operator, Réseau de Transport d’Electricité (RTE) to supply it high-voltage power cables.
A press release said that the agreement builds upon a decade of successful collaboration between NKT and RTE. “This new frame contract is a testament to NKT’s presence in France and a confirmation of the mutually rewarding business relationship between NKT and RTE.”
NKT will supply 25 kV high-voltage AC XLPE underground power cable systems, and install accessories such as joints and terminations. The contract covers from 2021 through 2023, with an option for one additional year, as RTE furthers its goal to renew and modernize the transmission power grid in France to support energy transition.
“We are fully committed to accelerate the sustainability journey as we are the first major power cable manufacturer to commit to the Science Based Target initiative and to become a net-zero emissions company supporting RTE in their ambition of making ‘the Greener Choice,’” said NKT President and CEO Alexander Kara.
NKT is currently supporting RTE by executing a 225 kV high-voltage retrofitting power cable project in Marseille, where old cables installed in steel pipes are being replaced with new armored extruded XLPE type cables. The power cables for both the retrofitting project and the new frame agreement are to be made at NKT’s factory in Cologne, Germany, which runs on 100% green electricity.
NKT reports that it has become the first major power cable manufacturer to join an initiative to become a net-zero emissions company.
A press release said that NKT has already committed to annually reducing its own greenhouse gas (GHG) emissions by 5%, in line with the Paris climate agreement to keep global warming to 1.5°C above pre-industrial levels. “Now, the company commits to the Science Based Targets initiative (SBTi) with the aim to set its net-zero deadline as soon as possible, with 2050 as the ultimate close.” To that end, the company commits to reduce its CO2 emissions by 5% on average annually.
“I am proud that we are the first major power cable manufacturer to commit to this verified and approved method for responsible climate actions, and it is a strong signal to our stakeholders that we are fully committed to accelerate the sustainability journey,” said NKT President & CEO Alexander Kara. He noted that last year, the company announced that all its power cable plants will run on electricity from renewable energy sources, reducing CO2 emissions from its annual energy consumption by 66%, or over 48,000 tons compared to 2019.
Separately, NKT runs several decarbonization initiatives, including reduction of fuel consumption and dedicated projects to increase the energy efficiency of the cable manufacturing industry. It also recycles materials such as XLPE and metals from the production of power cables, which helps reduce emissions from traditional waste management.
The SBTi is a collaboration between CDP, the United Nations Global Compact, World Resources Institute and the World Wide Fund for Nature. Over 1,000 companies have committed to set science-based emissions reduction targets.
NKT has been awarded its largest order, worth more than €1 billion, from TenneT and TransnetBW, for a project that calls for it to supply and install a 525 kV XLPE high-voltage DC (direct current) onshore cable system.
A press release said that the cable will be used for Germany’s SuedLink corridor, which comprises two power cable systems. NKT has been awarded the 2 GW cable link, which it noted will be the world’s largest and longest high-voltage DC underground interconnector. The SuedLink line starts in Northern Germany where it connects to power from offshore wind farms and to the Nordlink interconnector, which brings hydro power from Norway to Germany via a 525 kV high-voltage DC offshore power cable system also provided by NKT.
Earlier this year, NKT announced that it would deliver the majority of the 525 kV XLPE power cable system for the SuedOstLink corridor in Eastern Germany.
“The order for the SuedLink corridor project underlines NKT’s position as a major partner in Germany’s transition towards increased use of renewable energy and in connecting the national grids,” said NKT President and CEO Alexander Kara.
NKT has won a contract worth approximately €235 million to deliver and install a high-voltage DC (direct current) interconnector for SSEN Transmission’s Shetland HVDC Link project.
A press release said that the turnkey order calls for some 2 x 260 km of 320 kV high-voltage DC on- and offshore power cables. The power cables will be manufactured in Karlskrona, Sweden, with expected production to start in 2021, with commissioning in 2024, with installation done by the cable-laying vessel NKT Victoria.
“I am very pleased that we are selected as partner for the Shetland HVDC Link, which will provide a sustainable grid connection to Shetland and renewable energy supply from the island,” said NKT President and CEO Alexander Kara. “With this opportunity we continue our good relationship with SSEN Transmission, with whom we also successfully completed the Caithness-Moray Link, connecting Eastern and Northern Scotland.”
The Shetland HVDC Link will be the first transmission connection between the Scottish mainland and the island of Shetland, located off the northeast coast of Scotland. The link will facilitate the connection of renewable energy generation to the main Great Britain electricity system.
NKT notes that it is part of the green solution as it is providing power cables in a plant running on 100% green electricity. It added that the NKT Victoria is the industry’s most sustainable cable-laying vessel, running on power from the quay-side when in harbor.
NKT announced that it has signed a supplier agreement with Dogger Bank Wind Farms Creyke Beck A and Creyke Beck B site to delivery and install high-voltage DC on- and offshore export cable systems.
A press release said that the order calls for NKT to provide 4×175 km of 320 kV DC offshore export power cables, and approximately 4×32 km of 320 kV DC onshore export power cables. Production of the power cable will start at the end of this year at its plant in Karlskrona, Sweden. The contract was valued at approximately 360 million euros. The agreement “will contribute positively to the medium voltage cables market trends owing to its supply of green energy to approximately 3 million households in the U.K.”
“I am excited that our long-term customers of Equinor and SSE have selected NKT as turnkey provider of the cable systems for the Dogger Bank Wind Farms Creyke Beck A/B and recognize us as a high-voltage DC technology partner in the market,” said NKT President and CEO Alexander Kara. “I am pleased to observe the continued European focus on increasing the use of renewable energy sources, which is a trend from which NKT sees good growth opportunities.”
The company also reports that it has qualified its 525 kV high-voltage DC power cable for the German corridor projects, which it notes represents “a milestone in the European green energy transformation.”
A press release said that certification of the company’s XLPE underground power cable enables it to be used for coming high-voltage DC corridor projects in Germany. These projects constitute a vital step in the country’s transition of its energy supply to come from renewable sources, a strategy called “Energiewende,” Germany’s long-term strategy for switching to renewable energies by 2050. That initiative will require long-distance power transmission lines to transport renewable energy.
The certification process was not a quick one. The cable underwent more than a year of testing by an external power cable test institute. The resulting certification adds to the Cigre qualification earned in 2014 when NKT first launched the world’s first 525 kV XLPE power cable.
The cable, which keeps transmission losses low, will be manufactured at NKT’s high-voltage plants in Germany and Sweden, solely using “green” electricity. The local presence “will also ensure short transportation distances to the HVDC corridors and thereby minimize the total carbon footprint.”
NKT announced that it has won a contract from Energinet and National Grid to supply power cable for the Viking Link interconnector project that will connect Danish and British transmission grids.
A press release said that the order from the owners of Viking Link, worth approximately €90 million, will see NKT provide approximately 150 km of 525 kV MI high-voltage DC onshore power cables. The NKT power cables will be manufactured in Karlskrona, Sweden, with production expected to start in 2020. The power cable will run from the Denmark shore to the power grid substation in Revsing, southern Jutland.
NKT Interim CEO Roland Andersen said that the Viking Link is a key project for the North-European transformation towards renewable energy supplies. "The award is a recognition of our technological competences also in the growing extra high-voltage interconnector segment from Energinet and National Grid."
The release said that when completed, the760-km long DC interconnector line will help balance wind production and demand across countries, and closer integration between transmission grids is important for the efficient transition towards a green energy future. Implementation of Viking Link is a vital step towards achieving ambitious renewable targets in both Denmark and the U.K. The interconnector line is scheduled for commissioning in 2023.