NKT is finalizing the power cable contract for the first major offshore wind farm in Poland

Investor News

6 June 2023

NKT is finalizing the power cable contract for the first major offshore wind farm in Poland

NKT will soon sign the order for a 230 kV AC high-voltage export power cable system for the Polish project Baltic Power Offshore Wind Park with a capacity of up to 1.2 GW.

NKT is finalizing the contract for offshore export power cables for the first major offshore wind farms in Poland awarded by Baltic Power Sp. z.o.o. For NKT, the order is expected to have a value of more than EUR 120m (more than EUR 110m in std. metal prices) and will comprise the design and production of approx. 130 km of 230 kV high-voltage power cables for the Baltic Power Offshore Wind Park.

The export power cables will be produced at the NKT factory in Cologne, with expected commissioning of the full project in 2026. The order award will not change the 2023 financial outlook for NKT.

The order is subject to formal contract signature expected end of June 2023 and a subsequent final notice to proceed.

Learn more about the project in a previous announcement from Baltic Power Sp. z.o.o.

Contact
Investor Relations:         Michael Nass Nielsen, Head of Investor Relations, Tel.: +45 2494 1654
Press:                           Pelle Fischer, External Communication Lead, Tel.: +45 2223 5870

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