Nexans partners with Transgreen, an industry initiative for Mediterranean power grids
Nexans CEO Frédéric Vincent yesterday signed a draft agreement with 12 other industry partners
Paris, July 6, 2010 – Nexans, the worldwide leader in the cable industry, yesterday signed a draft agreement for the creation of the trans-Mediterranean super-grid “Transgreen” with 12 other industry partners, in the presence of the French Minister of Ecology, Energy, Sustainable Development and Sea Jean-Louis Borloo, the French Republic President’s Special Advisor Henri Guaino and the French Secretary of State for European Affairs Pierre Lellouche.
Transgreen is an unprecedented industry initiative aimed at studying the feasibility of a power transmission grid between the northern and southern shores of the Mediterranean and at developing interconnections around the Mediterranean Basin. It is part of the Mediterranean Solar Plan (MSP), which provides for the building of renewable – mainly solar – power generation facilities in the southern and eastern areas of the Mediterranean, with a total output of 20 GW by 2020. The 13 signing companies will collaborate within a common legal entity, especially in order to propose the technical and economical master plan for a trans-Mediterranean super-grid with 5GW export capacity to Europe by 2020.
“Nexans generates about half of its sales in the infrastructure market and has recognized expertise in the design and installation of high voltage submarine power links, therefore it was obvious for us to participate in Transgreen. As access to electricity remains a vital need for human beings, it is more essential than ever to get involved in responsible projects which make it possible not only to build and interconnect new grids but also to develop renewable energy resources,” said Frédéric Vincent.
Power grid performance is central to Nexans’ strategy. In fact, Nexans offers a complete portfolio of terrestrial and submarine high-voltage AC and DC cables and cabling systems, with products and services which enable integration of alternative energy sources into the grid, real time monitoring of infrastructure for increased reliability and installation of new materials —including superconductors—for improved performance.
Leveraging its expertise in high-voltage submarine power transmission, Nexans has many references in this field, such as the link between Morocco and Spain, the NorNed link between the Netherlands and Norway and, more recently, the COMETA link between the Spanish mainland and the Balearic Islands. In recent years, Nexans has also demonstrated its skills in connecting renewable energy resources by participating in numerous offshore windfarm projects worldwide, including Barrow (England), Horns Rev (Denmark), Lynn & Inner Dowsing (England), Wolfe Island (Canada), etc.
With energy as the basis of its development, Nexans, worldwide leading expert in the cable industry, offers an extensive range of cables and cabling systems. The Group is a global player in the infrastructure, industry, building and Local Area Network markets. Nexans addresses a series of market segments: from energy, transport and telecom networks to shipbuilding, oil and gas, nuclear power, automotives, electronics, aeronautics, material handling and automation.
Nexans is a responsible industrial company that regards sustainable development as integral to its global and operational strategy. Continuous innovation in products, solutions and services, employee development and engagement, and the introduction of safe industrial processes with limited environmental impact are among the key initiatives that place Nexans at the core of a sustainable future.
With an industrial presence in 40 countries and commercial activities worldwide, Nexans employs 23,700 people and had sales in 2010 of more than 6 billion euros. Nexans is listed on NYSE Euronext Paris, compartment A. For more information, please consult www.nexans.com.