NKT Cables Clinches Race Bank Deal

NKT Cables has been awarded the order for delivery of export cable systems to the Race Bank Offshore Wind farm by DONG Energy.

The order is NKT Cables’ 11th large offshore wind farm project since 2010 where the company first started production of submarine cables.

For NKT Cables, the order will have a contract value of approximately DKK 595m (approx. EUR 80m) in standard metal prices (approx. DKK 640m in market prices) and comprises supply of more than 150 kilometers of 220 kV high voltage submarine cables. The cables are to be manufactured in Cologne, Germany, with the first phase delivered ready for installation in 2016. The second and last phase is to be delivered ready for installation in 2017. The order is conditional upon DONG Energy making a final investment decision for the offshore wind farm.

“The award of the Race Bank project underlines that our technology, expertise and state of the art facilities in Cologne and Rotterdam is well acknowledged by the utilities. The order is a recognition of our position as a highly reliable cable manufacturer and partner for large offshore projects,” said Michael Hedegaard Lyng, Group Executive Director & CFO.

The Race Bank Project is a large offshore wind farm to be placed in the southern North Sea, 27 km north of Blakeney Point off the coast of Norfolk. The offshore wind farm will have a capacity of up to 580 MW.

Press release; Image: NKT Cables (Illustration)