NKT A/S said Wednesday it has won a contract worth around 650 million euros to supply power cables for a major renewable energy project in Denmark, a significant win for the company as it faces antitrust scrutiny in Eastern Europe.
The Danish cable maker will provide and install high-voltage direct current power cable systems to connect the planned Bornholm Energy Island in the Baltic Sea to the power grid on Zealand.
The contract, awarded by Danish grid operator Energinet, covers approximately 217 kilometers of on- and offshore cables and is expected to be commissioned in 2032, the company said.
This award means NKT will now connect the energy island, designed to handle up to 3.8 gigawatts of offshore wind power, to both the Danish and German power grids, following a similar deal with German operator 50Hertz in 2023.
"Bornholm Energy Island is a key project for Europe to enhance energy security and the exchange of renewable energy," NKT's Chief Executive Claes Westerlind said in a statement.
The deal was announced less than a week after NKT confirmed its Czech subsidiary is under investigation by Slovakia's antimonopoly office for alleged anti-competitive practices.
NKT said the new contract does not change its 2025 financial outlook.
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