Nexans Signs Empire Wind Contract to Bring Renewable Energy to New York

Rhea-AI Summary

Nexans has secured a final order from the Equinor/bp joint venture for a turnkey contract to supply export cables for the Empire Wind 1 project, part of a larger offshore wind initiative off the coast of New York. The cables, manufactured in Charleston and Halden, will connect to South Brooklyn Marine Terminal, providing power to over 500,000 homes. This project aligns with New York's commitment to renewable energy and carbon reduction, enhancing Nexans' position in the U.S. renewable energy sector.

Positive

• Secured a significant contract for export cables for Empire Wind 1, enhancing revenue opportunities.
• Positioned as a major player in U.S. renewable energy, aligning with New York's carbon reduction goals.

Negative

• None.

• Nexans receives final order from Equinor/bp joint venture for U.S offshore wind export cables turnkey contract for Empire Wind 1.
• The project is part of the larger Empire Wind offshore wind farm that will generate enough renewable energy to energize over one million homes in New York State. Over 500,000 of those homes will be powered by the cables from this contract for Empire Wind 1.
• Equinor and bp’s Empire Wind 1 project is a significant achievement that anticipates the State's growing need for energy and contributes to its carbon reduction roadmap.
• The cables will be manufactured at Nexans’ facilities in Charleston, South Carolina, and Halden, Norway and will also be installed by Nexans.

NEW YORK--(BUSINESS WIRE)-- Nexans, a global organization and key driver for the world’s transition to a more connected and sustainable future, today announced the execution of a significant contract for phase one of the Empire Wind Project being developed by a 50-50 partnership between Equinor and bp. This signature follows the Preferred Supplier Agreement signed in March 2021 which prompted several months of collaborative work to negotiate a turnkey contract, covering the design and manufacturing, as well as the laying and protection of export cables for the project.

The Empire Wind lease area for the first phase of the overall 2.1 gigawatt project is located about 20 miles (33km) south of Long Island and east of the Rockaways. Nexans will install the export cables over 93 miles (150km) from the offshore substation for Empire Wind 1 to landfall at South Brooklyn Marine Terminal.

The Empire Wind 1 project, when completed, will deliver electricity to over 500,000 homes of the eventual over 1 million homes that will be powered by the entire Empire Wind project.

Christopher Guerin, CEO of Nexans, said: “New York is one of the most aggressive states in the U.S. in terms of committing itself to create a fully carbon-free statewide economy, and offshore wind energy will likely be the main source of electricity for the state by 2035.
Signing the contract for Empire Wind 1 further establishes Nexans as a major player in renewable energy in the United States, and will alleviate added pressures on the state’s electrical grids. We look forward to continuing our relationships with Equinor and bp as we work together to electrify the future.”

About NEXANS

For more than a century, Nexans has played a crucial role in electrifying the planet and is committed to electrifying the future. With 25,000 staff in 42 countries, the Group is driving the change towards the new world of electrification — a safer, more sustainable, renewable, carbon-free world, accessible to all. In 2021, Nexans generated €6.1 billion in standard sales. The Group is a leader in the design and manufacturing of cable systems and services in five main areas of activity: Energy Production & Transmission, Distribution, Uses, Industry & Solutions and Telecom & Data. Nexans was the first player in its industry to create a Corporate Foundation to support actions that promote access to energy for disadvantaged populations worldwide. The Group is committed to helping achieve carbon neutrality by 2030.

Nexans. Electrify the future.

Nexans is listed on the Euronext Paris stock market, compartment A.

For more information, visit www.nexans.com

For more information about Empire Wind, visit www.empirewind.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20221005005754/en/

Communications



Emmanuel Guinot

emmanuel.guinot@nexans.com



Christopher Minardi

Tel.: +1 929-459-4530

christopher.minardi@nexans.com



Investor Relations



Elodie Robbe-Mouillot

Tel.: +33 (0)1 78 15 03 87

elodie.robbe-mouillot@nexans.com

Source: Nexans