NKT’s Borssele Beta Contract Share Valued at EUR 90 Million
- Business & Finance
NKT’s part of the contract for Borssele Beta, won in a consortium with VBMS, is valued at approximately EUR 90 million. As reported earlier, the contract value for VBMS is approximately EUR 70 million.
NKT Cables is in charge of supplying 138km of 220kV AC high-voltage submarine cables delivered ready for installation by VBMS in late 2019.
In November 2016, VBMS and NKT won a contract to supply and install two Borssele Alpha export cables with an option for Borssele Beta, which has been awarded now.
NKT President and CEO Michael Hedegaard Lyng said: “I am pleased that our long-term co-operation with TenneT results in the award of the Borssele Beta project and that we are seen as a strong partner in solutions to realize renewable energy targets. Further investments in a new grid infrastructure in both Europe and also globally continue to provide an attractive outlook for NKT.”
The 700MW Borssele Beta connection system will connect the Borssele 3 & 4 wind farms to the onshore grid and will be operational in 2020.
Borssele Alpha, which will connect Borssele 1 & 2 to the grid, will go into service in 2019.