February 12, 2015 / 1:06 PM / 3 years ago

UPDATE 1-Nexans, ABB win NordLink power cable contracts

(Adds contract value for Nexans, details)

OSLO, Feb 12 (Reuters) - French cable maker Nexans and Swiss engineering group ABB have won contracts to supply and install the first power link between Norway and Germany, Norway’s grid operator Statnett said on Thursday.

The high voltage direct-current (HVDC) interconnector, NordLink, will be over 600 km (373 miles) long, including a subsea section of more than 500 km, and will have a capacity of 1,400 megawatts (MW), sufficient to supply power to more than 600,000 households.

The cable will be Nexans’ largest subsea power cable contract to date in terms of its length and value, the Paris-listed company said in a separate statement, putting its value at around 500 million euros ($567 million).

Nexans said it would design, manufacture and install high-voltage direct current (HVDC) cable at a depths of up to 450 metres off the cost of Norway and Denmark.

ABB was not immediately available to comment.

Norwegian and German grid companies and Germany’s development bank KfW made the final decision to invest in the 1.5-2 billion euro project on Tuesday.

The cable will be owned by Statnett and DC Nordseekabel GmbH&Co. KG, a joint venture between TenneT and KfW.

The interconnection is expected to be built by the end of 2019, a year later than initially planned.

Statnett said the delay was due to insufficient cable production capacities.

$1 = 0.8825 euros Reporting by Nerijus Adomaitis, Editing by Terje Solsvik and Mark Potter

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