The power cable industry plays an important role in the global energy infrastructure, enabling the transmission of electricity from power sources to various end-users. The growing demand for renewable energy is driving the need for reliable and efficient power grids. Technological advancements in materials, design, and production are transforming the industry, resulting in robust, high-performance cables capable of transmitting power over long distances with minimal loss.
Furthermore, the power cable industry is constantly evolving to meet the dynamic needs of the energy sector, including underground cables for urban areas and submarine cables that connect offshore wind farms to the grid. These innovations ensure the effective transmission of electricity, support the increased adoption of renewable energy sources, and enhance the overall resilience of energy infrastructure.
According to a recent report published by Allied Market Research, the global power cable industry is expected to exhibit a notable CAGR of 6.4% during the projected period.
Innovative cable technologies promoting renewable energy adoption
Over the past few years, there has been a notable rise in the use of renewable energy cables due to a global shift toward sustainable energy solutions. Governments around the globe have set ambitious green energy targets and implemented international initiatives to reduce reliance on fossil fuels. This movement plays a key role in addressing environmental concerns such as ozone layer depletion and mitigating the impact of climate change.
Countries are investing in diverse renewable energy sources, including offshore wind turbines, solar installations, and onshore wind initiatives. For instance, innovative projects, such as floating solar arrays on water reservoirs and agrivoltaic systems integrating solar panels with farming, showcase new advancements in renewable energy use. These initiatives expand the renewable energy sector and promote eco-friendly practices.
Moreover, advancements in cable technologies are essential for improving energy transmission efficiency from renewable sources to the grid. High-voltage direct current cables, for example, enable long-distance transmission with minimal energy loss, thus supporting the scalability of offshore wind farms and large-scale solar installations. With the move toward a greener future, the demand for these advanced cables is expected to grow, further promoting global sustainable development goals.
Prysmian secures major contract for cabling services in the Middle East
On January 17, 2022, Prysmian, a top Italian cable company, secured a significant €220 million deal to supply power cables for an innovative HVDC submarine cable initiative in the Middle East. The contract was granted by Samsung C&T as part of an association with Jan De Nul and is essential for the Abu Dhabi National Oil Company and Abu Dhabi National Energy Company PJSC (TAQA). This strategic effort aims to establish a key HVDC transmission system connecting Al Mirfa and Al Ghallan, enabling robust bulk-power energy transfer. Prysmian was responsible for engineering and manufacturing, with partial production launched in 2022. The project is anticipated to be completed by 2025. This agreement highlights Prysmian’s important role in regional power transmission projects.
NKT signs deal for Champlain Hudson Power Express project in the United States
On July 1, 2022, NKT entered a significant agreement with CHPE LLC to engineer, produce, and install a high-voltage 400kV DC transmission line, known as the Champlain Hudson Power Express, in the United States. Valued at more than EUR 1.4 billion, this contract highlights NKT’s strategic initiative to strengthen its presence in the US market and utilize its expertise in DC technology to advance North America’s transition toward renewable energy.
The Champlain Hudson Power Express project aims to efficiently transmit sustainable hydropower from Canada to New York City, contributing to the state’s goal of sourcing at least 70% of its energy from renewable sources by 2030. This underground power line, capable of carrying 1,250 megawatts, represents one of the largest infrastructure projects in New York. Its development has been carefully planned to address local environmental and community concerns.
Nexans secures important settlement to supply cables for Viking Wind Farm
On June 15, 2021, Nexans secured an important deal from SSE Renewables to provide 800 km of underground cables essential for connecting 103 wind turbines at Scotland’s Viking Wind Farm. These cables play an important role in transmitting renewable energy, supporting SSE’s aim to power 500,000 households with clean electricity by 2024. Nexans was chosen for their expertise and consistent pricing in the face of market fluctuations. This project highlights their role in advancing the UK’s renewable energy infrastructure and builds upon Nexans’ prior contributions to SSE’s Seagreen offshore wind farm.
To summarize, the evolution of the power cable industry, driven by technological advancements and the increasing adoption of renewable energy, is essential for global energy infrastructure. Projects undertaken by Prysmian, NKT, and Nexans highlight their significant role in promoting sustainable energy transmission and supporting environmental goals worldwide.
Short Description
Power cables are essential components of global energy infrastructure, enabling the efficient transmission of electricity from sources to end-users. Cutting-edge innovations in materials and design help facilitate the widespread use of renewable energy, enabling long-distance transmission with minimal energy loss.
