News

NKT Secures Major High-Voltage Projects with TenneT

NKT Secures Major High-Voltage Projects with TenneT

NKT Secures Major High-Voltage Projects with TenneT

NKT has exciting news to share as it has been awarded two significant turnkey projects in Germany under an existing framework agreement with TenneT. These projects play a crucial role within TenneT’s 2GW Program, one of Europe’s most ambitious energy transition initiatives.

Partnership Strengthened Between NKT and TenneT

As the Dutch-German transmission system operator, TenneT has chosen NKT to provide high-voltage direct current (HVDC) systems at 525 kV. This agreement marks another milestone in the already robust partnership, reinforcing NKT’s prominent position in the high-voltage DC power cable market.

Claes Westerlind, President and CEO of NKT, expressed his enthusiasm about the partnership. He stated, "We are thrilled to once again be selected as a key partner for TenneT’s ambitious 2GW Program. Our collaboration reflects our dedication to advancing the energy transition in Europe, primarily through the efficient transport of wind power from the North Sea to the onshore grid."

Details of the Awarded Projects

The projects awarded are known as LanWin7 and a segment of NordOstLink. Expected to be called off in 2026-2027, these contracts carry a substantial combined value of approximately EUR 1 billion, covering cable design, engineering, production, and installation, both onshore and offshore.

Project Characteristics

With this latest award, NKT has now secured five projects under the framework agreement, which is set to continue until 2028, potentially extending into 2031. This consistent growth underscores NKT's leadership in the global energy market.

Key Specifications of the Projects

Both projects highlight specific characteristics important for infrastructure development:

  • Project Scope: The scope covers cable design, engineering, production, and installation on- and offshore.
  • Cable Specifications:
    • LanWin7 will feature a route length of 320 km, using a 525 kV XLPE HVDC power cable system designed for both on- and offshore applications.
    • NordOstLink (partial) will have a route length of 65 km, utilizing a 525 kV HVDC power cable system aimed for onshore use.
  • Project Overview:
    • The LanWin7 project is pivotal for enhancing offshore grid connection systems, particularly connecting to a multi-terminal hub in Pöschendorf, Schleswig-Holstein, known as NordHub. This facility will integrate several direct current (DC) and alternative current (AC) connections, thereby facilitating the effective transport of wind energy from offshore sites to the mainland.
    • The NordOstLink project is designed to lay additional cables that will boost the overall capacity and flexibility of the grid.
  • Timeline: The contracts are anticipated to be activated in 2026-27, with commissioning slated between 2033-34.

Impact on NKT's Financial Outlook

Importantly, the awarding of these projects will not alter the financial outlook for NKT for the upcoming year. The focus remains on leveraging technology and innovation to support Europe's pressing energy needs.

Contact Information for Inquiries

Investors:
Jacob Johansen, Head of Investor Relations
+45 2169 3591 / jacob.johansen@nkt.com

Press:
Louise Westh Naldal, Head of Group Communications
+45 2982 0022 / louise.westh.naldal@nkt.com

Frequently Asked Questions

What are the new projects awarded to NKT?

NKT has been awarded the LanWin7 and NordOstLink projects under a framework agreement with TenneT.

What is the scope of these projects?

The projects cover cable design, engineering, production, and both on- and offshore installation of high-voltage cable systems.

What is the expected value of the contracts?

The combined value of the contracts is approximately EUR 1 billion.

When do the projects expect to be activated?

Contract call-offs are expected to occur in 2026-27.

How does this affect NKT's financial outlook?

The awarding of these projects will not impact NKT's financial outlook for the upcoming year.

About The Author

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.

Top 10 Most Recent News Articles

Paula's Choice Elevates Skincare Game with New Campaign

Updated Category News Views 4

Strategy Meets Skincare: Paula's Choice in the Spotlight Catch this: Paula's Choice just dropped a moisturizer, but it ain't just lotion. No, the Pro-Collagen Peptide Plumping Intensive Moisturizer is here with a punch. And they've got Hannah Waddingham, of 'Ted Lasso' fame, fronting a campaign that screams confidence. Now, that's a way to announce your move at the...

Continue Reading
BMAP Expands: Bridging Borders in Legal Advocacy

Updated Category News Views 3

Breaking Down BMAP's Unique Approach Just when you thought you've seen it all, along comes LMU Loyola Law School swinging the doors wide open with their Binational Migrant Advocacy Project, or as we’re affectionately calling it, BMAP. It's a mouthful, sure, but ain't it something? This project isn't just another feather in academia's cap—it's a relentless counterpunch...

Continue Reading
CSS Revamps Identity, Emphasizing Senior Living Tech

Updated Category News Views 4

CSS Takes a Bold Step with a Fresh Brand Identity Every now and then, you see a company shake off the old coat and put on a polished new one. That's what CSS is doing with its updated brand, staking its claim as a heavyweight tech player in the senior living sector. No small feat, given the challenges stacked against these aging communities—tasked with keeping...

Continue Reading
Perk's U.S. Expansion: A Bold Move in Spend Control

Updated Category News Views 5

Perk Aims for U.S. Growth: Will It Pay Off? Amidst the cacophony of market chatter, Perk's announcement to bring its spend platform stateside is echoing louder than usual. This move is not just another step in its expansion but rather a leap considering the competition and market needs. In Europe, where they've already captured a chunk of the market with their Travel and...

Continue Reading
Mutare Sharpens Security for Webex Calls with Precision

Updated Category News Views 5

Control Dialed In: Tailored Call Screening Kicking things up a notch, Mutare is redefining call security by fine-tuning their Voice Security for Webex Calling. Imagine this—custom rules now let organizations shape a security policy down to the very last detail, ensuring unwanted calls don’t slip through the cracks. Wave goodbye to the broad-strokes approach. Precision...

Continue Reading
Alcott HR's Sales Strategy Gets a Boost with New Hire

Updated Category News Views 9

Alcott HR Ramps Up Sales Firepower Now here's something fresh from the world of human resources outsourcing—Alcott HR has grabbed a new ace for their sales team. Eldin Radoncic is the name you'll want to remember, folks, because he's diving headfirst into the Director of Sales seat at this IRS Certified and ESAC Accredited player based out in good old Farmingdale, New...

Continue Reading
NOAA Taps ICEYE US for Game-Changing SAR Satellite Data

Updated Category News Views 5

The Strategic Move to SAR Data Imagine this: You’re in the thick of a hurricane, where visibility goes out the window, and traditional satellite data chokes under the crushing weight of clouds and nightfall. That's the precise chaos ICEYE US is cutting through with its Synthetic Aperture Radar (SAR) technology. The latest scuttlebutt is that NOAA's getting cozy with...

Continue Reading
Robotics in Cleaning: 2026 Sees Double Adoption Rates

Updated Category News Views 3

Cleaning Industry Eyes Robotic Solutions Amid Labor Squeeze In a twist that's got industry veterans nodding knowingly, the cleaning industry is tipping towards automation. The recent 2026 Building Service Contractor Market Study reveals a massive leap: 32% of building service contractors (BSCs) plan to embrace robotic floor equipment in the coming year. That's a...

Continue Reading
Lumicell Expands LumiSystem in Breast Cancer Surgery

Updated Category News Views 6

Innovation in Breast Cancer Surgery: A Real-World Game Changer? You’ve got your flashlight guiding a scared child through the dark, and in the healthcare world, Lumicell is promising to do just that for surgeons navigating the tricky maze of breast cancer surgery. Their LumiSystem is making waves in breast-conserving surgery—new kid on the block with a real chance at...

Continue Reading
Inovonics Duress Card Enhances Safety for K-12 and Beyond

Updated Category News Views 6

A New Dawn for Safety in Schools and More It's about time we talk about something more substantial than just beefing up security cameras or tightening door locks. Real-world problems require nimble solutions, and that's where Status Solutions steps in with the Inovonics Duress Card. It's not just another gadget; it's a lightweight, wrist-mounted lifeline designed to say,...

Continue Reading

Top 5 Most Recently Viewed Articles

Investing in Earth’s Hidden Hydrogen: A New Energy Frontier

Updated Category News Views 105

Koloma's Bold Vision for Geologic Hydrogen Koloma, a clean energy startup with notable support from leading figures, is spearheading the global quest for geologic hydrogen. This resource is rapidly gaining traction among both investors and scientists, positioning itself as a transformative energy option. The Exciting Potential of Geologic Hydrogen This dynamic startup...

Continue Reading
Reed Hastings Supports Trump's H-1B Proposal: Key Insights

Updated Category News Views 329

Reed Hastings and the $100,000 H-1B Visa Fee Recently, Reed Hastings, the co-founder and former CEO of Netflix Inc. (NASDAQ: NFLX), voiced his support for a substantial change to the H-1B visa program proposed by former President Donald Trump. Hastings, a well-respected figure in the tech industry, believes that Trump's idea of implementing a $100,000 fee for each H-1B...

Continue Reading
Market Trends: Bank Earnings and Tesla's Robotaxi Take Center Stage

Updated Category News Views 79

Futures Point Lower Amidst Anticipated Bank Earnings US stock futures are signaling a downward trend as investors prepare for significant bank earnings reports. Big players such as JPMorgan Chase and Wells Fargo are set to release their quarterly figures shortly, drawing considerable attention from the investment community. Overview of the Current Market Sentiment The...

Continue Reading
Fusion Micro Finance Faces Challenges Leading to Stock Downgrade

Updated Category News Views 136

Fusion Micro Finance Stock Rating Downgraded Recently, Fusion Micro Finance Ltd (FUSION:IN) experienced a significant downgrade in its stock rating from CLSA, changing from Outperform to Underperform. This downgrade brought along a major cut in the price target, which fell from INR525.00 to INR260.00. Factors Behind the Downgrade The downgrade primarily results from the...

Continue Reading
Keel Launches $500M Tokenization Regatta for Real Assets

Updated Category News Views 214

Keel Launches Tokenization Regatta to Boost Real-World Assets Keel, a pioneering entity in the realm of on-chain capital allocation, has unveiled its Tokenization Regatta, representing a promising venture aimed at invigorating the landscape of Real-World Assets (RWA) on the Solana blockchain. This initiative, debuting during a high-profile event, marks a significant...

Continue Reading