NKT to spend EUR 100m on bolstering mid-voltage cable production

Danish power cable manufacturer NKT A/S (CPH:NKT) unveiled an investment plan of about EUR 100 million (USD 108.5m) aimed at expanding its medium-voltage cables production capacity in response to the increasing demand driven by grid upgrades and renewable energy projects across Europe.

The initiative encompasses three factories in Denmark, Sweden and the Czech Republic. The investments will add 20-110 kV production capacity and capabilities and further progress layout optimisations of the sites, according to a statement published Thursday.

The additional production volumes are expected to be progressively operational in 2025 and 2026.

“As more renewables projects come online, a major upgrade of the European power grid is needed. Current medium-voltage production and installation capacity is not sufficient to meet the increasing demand in the market,” said Carlos Fernandez, executive vice president and head of applications at NKT EVP.

(EUR 1 = USD 1.085)

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