| Work Detail |
Manufacturer says moves to beef-up production capacity is in response to surging demand
NKT is investing €100m in additional production capacity and capabilities at its medium-voltage factories across Europe to support growing demand from renewables developers.
The cable manufacturer said the spending is spread across three production sites in Asnaes, Denmark; Falun, Sweden and Velke Mezirící, Czech Republic.
The investments in Falun and Velke Mezirící have started while the investment in Asnaes is now initiated, the company said.
The new production capacity is anticipated to be progressively operational in 2025 and 2026 and the investments will lead to the additional recruitment of around 150 new colleagues
The medium-voltage power cable market has grown steadily in recent years driven by the transition to renewable energy and the continued electrification of societies. It said.
Electrical grid operators are also in the process of conducting major upgrade projects to keep apace.
NKT EVP head of applications Carlos Fernandez said: “NKT is well-positioned to support the growing market demand for medium-voltage cables and we invest in additional capacity to strengthen our position as a key partner to our customers in the green transition of societies.
“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.
“The investments will support NKTs continued growth journey in line with our strategic ambitions and enable vital grid upgrades and renewables projects across Europe.” |
