Japan’s Sumitomo Electric Industries, Ltd. (SEI), announced that it has signed a Capacity Reservation Agreement (CRA) with SSEN Transmission to supply and install a second 525 kV HVDC cable link between Shetland and the Scottish mainland.

A press release said that the signing of the CRA was significant as the planned cable will be made from SEI’s new manufacturing facility that is under construction in Nigg, northeast Scotland. Further, cables of this type and technology have never previously been manufactured in the U.K. and the announcement is a significant step towards realizing substantial benefit for the local area and the country as a whole.

“We are delighted to have penned this Capacity Reservation Agreement with SSEN Transmission,” said Yasuyuki Shibata, chair of Sumitomo Electric UK and Europe. “This is a significant milestone for Sumitomo Electric’s subsea cable factory investment in Scotland.”

Last May, SSEN Transmission selected Sumitomo Electric as the preferred bidder for the Shetland 2 project, which at the time was described as a crucial milestone underpinning SEI’s £350 million investment in its new cable manufacturing facility. The approximately 150,000-sq m site was said to be moving along as anticipated. The steelworks and factory fit-out are scheduled to take place in 12 to 15 months. The facility will provide employment for 150 full-time employees and double that number for indirect hires.

Bekaert announces it has reached an agreement to sell its Steel Wire Solutions businesses in Costa Rica, Ecuador, and Venezuela to Grupo AG.

A press release said that the deal has a transaction value of approximately US$73 million, with net proceeds for Bekaert of some US$37 million.  The collective operations had revenues of $137 million in 2024. The transaction is expected to close in the third quarter of 2025, subject to applicable regulatory approvals and customary closing conditions.

Bekaert noted in the release that its strategy in recent years has been “to transform its business portfolio by reducing the Group’s exposure to more commoditized and volatile markets, while increasing its presence in faster growing markets, which typically offer higher profit margins and higher returns on capital.” Following the divestment of its Steel Wire Solutions business in Chile and Peru in 2023, Bekaert is now taking a further step in its portfolio transformation by exiting the businesses in Costa Rica, Ecuador and Venezuela. That will allow the company to strengthen its focus on target segments, while securing a long-term future for the customers and employees of the divested entities.

The transaction includes the production and distribution facilities of the Steel Wire Solutions businesses in Costa Rica, Ecuador and Venezuela. These facilities manufacture and sell steel wire products primarily for construction, agricultural fencing, mining, and industrial applications. The transaction concerns the sale of the shares held by Bekaert in BIA Alambres Costa Rica S.A. in Costa Rica, Ideal Alambrec S.A. in Ecuador, and Vicson S.A. in Venezuela, along with their subsidiaries in each of those countries.

The activities subject to the transaction generated approximately US$137 million in consolidated revenue in 2024. The proceeds from the sale will further strengthen Bekaert’s balance sheet and support its commitment to shareholder returns and investment plans for growth.

“The proposed transaction unlocks the value of these businesses for Bekaert,” said François Desné, divisional CEO of Bekaert’s Steel Wire Solutions business unit. “It marks another significant milestone in our portfolio transformation, further strengthening the Steel Wire Solutions business with a more competitive and resilient market position. We have achieved numerous successes together with our longstanding partners. However, over time the characteristics of the markets in these three countries no longer align with our strategy.”

Prysmian has been awarded a four-year agreement, plus two optional two-year extension periods, for the supply of Extra-High-Voltage underground (EHV) cable systems from Statnett, a Transmission System Operator in Norway and a key player within North Europe’s power system.

A press release said that the contract’s scope of work consists of the supply and turnkey installation of 420 kV cables and accessories, which will be manufactured at Prysmian’s plant in the Netherlands (Delft). The order confirms Prysmian’s leadership position in the segment and underlines the partnership between Statnett and Prysmian. The award criteria were linked to climate and environmental impact of the proposal, together with quality, with Prysmian obtaining a maximum score.

“With this agreement we have taken a further major step in terms of growth, consolidating our leadership position in Europe,” said Marcello Del Brenna, CEO of Prysmian Europe.

Prysmian was awarded a €550 million contract in 2015 from Statnett SF and National Grid NSN Link Ltd. for some 950 km of submarine and land HVDC cable for an interconnector linking Norway and the U.K.

South Korea’s LS Cable announced that it has signed a framework contract with the U.K.’s National Grid for the future supply of HVDC (High Voltage Direct Current) cables, a massive project that will require multiple cable suppliers.

A press release explained that the framework contract was established to pre-select key suppliers before the commencement of individual projects and to create a long-term partnership. In addition to LS Cable, six other companies from Europe and Japan are involved. Specific contracts for other projects will be signed in the future.

The National Grid, which is responsible for managing Britain’s electricity network, has ambitious plans for large-scale transmission infrastructure in mainland Britain and the North Sea region. Over the next eight years, it plans to undertake cable supply and installation for 15 projects, allocating a budget of approximately £21.3 billion.

Through this contract, LS Cable will participate in upcoming projects, supplying and installing offshore and underground HVDC cables, as well as carrying out connection works. “Only six companies, including LS Cable, have experience supplying HVDC cables worldwide, making us the sole provider in South Korea,” said an official from LS Cable. “The current supply is insufficient to meet demand, prompting companies in various countries to proactively secure supply volumes.”

In other news, LS Cable announced that it and LS Marine Solutions have signed a memorandum of understanding (MOU) with British marine engineering company Balmoral Comtec for collaboration on the floating offshore wind power project.

A press release said that Balmoral Comtec, a leading energy company, provides cable protection systems, buoyancy solutions, and submarine infrastructure for the offshore wind power and marine energy industries. LS Cable & System is the first in Korea to develop a dynamic cable for floating offshore wind power that operates stably even in harsh marine environments. “Under this partnership, we aim to collaborate with Balmoral Comtec to build a safe operation system for floating offshore wind power cables, optimized for extreme marine conditions.”

LS Marine Solutions Co. will support this collaboration by enhancing the installation and operational efficiency of the cables and ensuring stable maintenance.

Hellenic Cables, the cables segment of Cenergy Holdings, has signed a framework agreement with National Grid, that secures its position as one of the appointed contractors eligible to participate in future HVDC cable projects across the U.K. and Europe.

A press release said that the agreement will enable it—and Jan De Nul, a global offshore installation contractor it has formed a consortium with—to participate in upcoming tenders for call-off projects for the design, manufacturing, supply, installation, testing, and commissioning of HVDC cable systems as part of National Grid’s large-scale offshore and onshore transmission infrastructure investment program. This framework agreement, which has an initial term of five years with an option for extension of up to three additional years, is a key component of National Grid’s strategy to secure long-term partnerships that support deliverability for critical projects in the U.K.

The U.K. Government’s commitment to achieving Net Zero by 2050 has placed significant emphasis on expanding the country’s electricity infrastructure to integrate renewable energy sources, such as offshore wind. National Grid’s cable framework aims to support this transition, ensuring a robust and reliable energy network. This framework will play a crucial role in enhancing grid resilience, facilitating renewable energy integration, and ensuring energy security for the future.

The consortium will participate in potential future tenders for turnkey projects. Hellenic Cables is undergoing a strategic investment program to expand production capacity and enhance technological capabilities for its plants in facilities in Corinth and Thiva. 

Jan De Nul has invested in two cable-laying vessels that will make it possible for the consortium to meet the expected future needs stemming from the development of HVDC interconnector projects.

“This agreement strengthens our commitment to supporting the UK’s energy transition and offshore wind ambitions,” said Hellenic Cables General Manager Kostas Savvakis. “We are proud to be part of this critical framework, providing world-class HVDC cable solutions.”