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Nexans Wins Contract for EstLink 2 Power Submarine Link Between Finland and Estonia

Sunday, December 26, 2010

Nexans, the worldwide leader in the cable industry, has signed a 180 million Euro turnkey contract with Fingrid Oyj and Elering OÜ, the electricity transmission system operators in Finland and Estonia, respectively, to construct a second DC (Direct Current) power link, EstLink 2, between the two countries.

The EstLink 2 DC connection will deliver an additional bi-directional transmission capacity of 650 MW between Finland and Estonia to provide one of the key reinforcements in the electricity transmission system as requested by the TSOs in the Baltic Sea region. Together with the 350 MW Estlink 1 connection, the total electricity transmission capacity between Finland and Estonia will rise to 1,000 MW. The Commission of the European Union also considers EstLink 2 to be very important in view of market development and security of supply in the region, which is why it has granted an investment subsidy of 100 million Euros for the project.

Nexans will design, manufacture and install the new 145 km DC subsea cable between Finland and Estonia, as well as a 12 km section of underground cable in Estonia. The turnkey contract includes civil works as well as the protection of the subsea cables by burying them into the seabed.

The subsea cable will be manufactured in Nexans' specialized facility in Halden, Norway and installed by Nexans' own cable laying ship, the C/S Nexans Skagerrak. The cable is an IRC type (Integrated Return Conductor) so only a single cable is required to create the 450 kV DC link. The project is scheduled to be ready for system testing in September 2013.

'This major contract for the EstLink 2 connection rounds off a year in which Nexans has been exceptionally successful in winning orders for high voltage subsea power links', says Yvon Raak, Nexans Senior Corporate Executive Vice President. 'It is clear that in addition to our technical capability that enables us to meet any requirement for AC or DC cables, customers also value our comprehensive service that goes from the initial design studies through manufacture and supply to installation, and also includes protecting the cables on the seabed.'

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More

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