NKT Expands Medium-Voltage Power Cable Production
NKT plans to invest up to €100 million to expand medium-voltage power cable production at its factories in Denmark, Sweden, and the Czech Republic. The company aims to meet fast-rising demand for medium-voltage cables that support grid upgrades and renewable energy projects across Europe.
The medium-voltage cable market continues to grow as countries accelerate the transition to renewable energy and increase electrification. To support this shift, NKT will boost capacity and capabilities at its facilities in Asnaes (Denmark), Falun (Sweden), and Velke Meziříčí (Czech Republic). Work has already started in Falun and Velke Meziříčí, and NKT has now initiated the investment program in Asnaes.
NKT Medium-Voltage Power Cable Investment Supports Green Transition
Carlos Fernandez, EVP and Head of Applications at NKT, emphasized that NKT holds a strong position as a key partner for the green transition in Europe. He pointed out that as more renewable projects come online, European grid operators need major upgrades to handle new power flows.
Current medium-voltage production and installation capacity does not fully meet market needs. NKT’s investment will close part of this gap, support the company’s long-term growth strategy, and enable critical grid upgrade and renewable energy projects across the continent.
Increasing Capacity and Optimizing Medium-Voltage Sites
In recent years, NKT’s Applications business line optimized its factory footprint across regions to increase efficiency and specialization. With that phase complete, NKT now shifts its focus to expanding its medium-voltage sites.
The new investments will add 20–110 kV production capacity and new capabilities while further improving factory layouts. These upgrades will help NKT deliver more cable, faster, and with higher reliability for utilities, developers, and other infrastructure customers.
Strengthening NKT’s Market Position and Creating Jobs
By expanding its three key sites, NKT strengthens its market-leading position in the European medium-voltage segment. The company expects the new production capacity to ramp up progressively in 2025 and 2026.
NKT also plans to hire around 150 additional employees to support the expansion. The investments should help NKT achieve its medium-term financial targets, including delivering a return on capital employed (RoCE) above 20%.