NKT confirms order for Dogger Bank offshore Wind Farms Creyke Beck A/B

Broendby, DENMARK


Company Announcement

19 November 2019
Announcement No. 14

NKT confirms order for Dogger Bank offshore Wind Farms Creyke Beck A/B

As informed in Company Announcement no. 11 of 20 September 2019, NKT has entered a Preferred Supplier Agreement (PSA) as main contractor for delivery and installation of high-voltage DC on- and offshore export cable systems to the Dogger Bank Wind Farms Creyke Beck A and Creyke Beck B site.

Now, with an agreement of a EPCI (Engineering, Procurement, Construction and Installation) contract with project owners Equinor and SSE Renewables, NKT confirms the order, which is the largest XLPE power cables order ever for the company, and has added the project to its the high-voltage order backlog.

As previously announced, the order represents a contract value of approx. EUR 360m (approx. DKK 2,685m) in market prices, equivalent to approx. EUR 300m (approx.
DKK 2,235m) in standard metal prices. The cable systems comprise the manufacture of approx. 4x175 km of 320 kV DC offshore export power cables and approx. 4x32 km of
320 kV DC onshore export power cables as well as installation by the cable-laying vessel NKT Victoria. NKT expects production-start of the power cables in 2020.

The Dogger Bank Creyke Beck A/B offshore wind farms will provide green energy supply to an estimated 3 million households in the UK.

Contact
Investor Relations:    Michael Nass Nielsen, Head of Investor Relations, tel: +45 2494 1654
Media Relations:       Helle Gudiksen, Head of Group Communications, tel: +45 2349 9098

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NKT confirms order for Dogger Bank offshore Wind Farms Creyke Beck A_B_14