Nexans inks Seagreen 1 export cable contract
Nexans Norway has been awarded a contract for the supply and installation of export cables for the Seagreen 1 offshore wind farm, after being chosen as a preferred supplier in 2019.
The Norwegian company will design, manufacture and install three 65-kilometre offshore export cables and three 20-kilometre onshore export cables for the 1,075 MW offshore wind farm in Scotland.
Nexans Norway plans to use its cable-laying vessel Aurora to install the subsea export cables. The vessel is currently under construction at Ulstein Verft.
The company’s Seagreen 1 contract is supported by a NOK 1.6 billion (around EUR 153 million) guarantee coverage from the Norwegian Export Credit Agency (GIEK). GIEK is also guaranteeing parts of the financing of the cable-laying vessel.
“GIEK has contributed financially to the development of a number of projects where we have supplied cables. This has been important for project realization and of great support to us as an exporter of Norwegian competence and technology to the global market,” said Ragnhild Katteland, Nexans Norway CEO.
According to a press release from Nexans and GIEK, the export credit agency has contributed NOK 4 billion (EUR 327 million) to offshore wind financing in the last six months. This covers deliveries from Norwegian suppliers Aibel, Fred Olsen Windcarriers and now also Nexans Norway for offshore wind projects abroad.