Latest news with #ClaesWesterlind
Bloomberg
2 days ago
- Business
- Bloomberg
There Aren't Enough Cables to Meet Growing Electricity Demand
High-voltage electricity cables are in huge demand around the world, so much so that a lack of cabling has become a bottleneck throttling the clean energy transition. So why are cable manufacturers so hesitant to expand? Also, how are these giant cables made? And is China about to eat everyone's lunch? Claes Westerlind, chief executive officer of cable manufacturing company NKT, joins Zero to discuss. This is the third episode in Bottlenecks, a series exploring the lesser known obstacles standing in the way of our electrified future.
Bloomberg
2 days ago
- Business
- Bloomberg
Zero: There Aren't Enough Cables to Meet Power Demand
High-voltage electricity cables are in huge demand around the world, so much so that a lack of cabling has become a bottleneck throttling the clean energy transition. So why are cable manufacturers so hesitant to expand? Also, how are these giant cables made? And is China about to eat everyone's lunch? Claes Westerlind, chief executive officer of cable manufacturing company NKT, joins Zero to discuss. This is the third episode in Bottlenecks, a series exploring the lesser known obstacles standing in the way of our electrified future.
Yahoo
30-04-2025
- Business
- Yahoo
NKT signs deal for low-carbon aluminium wire rod supply from Hydro
Power cable manufacturer NKT has signed an agreement with Hydro to secure a supply of low-carbon aluminium wire rod through to 2033. The estimated contract value of €1bn ($1.1bn) is contingent on quantity, duration and future metal prices. NKT president and CEO Claes Westerlind stated: 'This long-term supply agreement with Hydro not only guarantees a long-term, European supply of low-carbon aluminium - it also reinforces our position as a sustainability leader in the power cable industry. 'It supports our strategy to continuously improve the carbon intensity of our power cables, thereby supporting both our own short and long-term targets and our customers' decarbonisation ambitions. 'Given the current geopolitical landscape, securing reliable, local supply chains is increasingly important.' The agreement will enable NKT to provide power cable solutions with a significantly reduced carbon footprint, aligning with its sustainability goals. NKT is now positioned to meet increasing demand for medium and high-voltage power cable solutions, strengthening Europe's ability to build a secure, clean power grid. NKT has the first rights to Hydro's REDUXA 4.0 aluminium - the lowest embodied carbon grade available. Hydro is targeting a further 25% reduction in carbon footprint by 2030, with NKT having first rights to Hydro's REDUXA 3.0 aluminium. To address NKT's expanding demand, Hydro has announced a €140m investment in a new casthouse. The investment is expected to ensure a sustainable, local supply chain while lessening risks associated with potential regulatory and geopolitical changes. Hydro president and CEO Eivind Kallevik stated: 'It is with a sense of urgency that Europe is now mobilising to reduce dependency on fossil fuel imports, introduce more homegrown, renewable power, and ensure security of supply of critical raw materials. 'Together with NKT, we are building a supply chain to provide responsibly sourced aluminium for the infrastructure makeover that Europe needs to bring down energy prices, accelerate the energy transition and boost European competitiveness.' In October 2025, NKT secured a framework agreement with Enexis Netbeheer to supply medium voltage power cables. "NKT signs deal for low-carbon aluminium wire rod supply from Hydro" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
