Rotech Subsea, the technology-driven provider of innovative subsea tools to the global energy industry, has delivered key remedial export cable burial operations at a major US offshore wind farm.
NEC Corporation (NEC; TSE: 6701) has signed a contract with FSM Telecommunications Cable Corporation (FSMTCC), based in the Federated States of Micronesia (FSM), BwebwerikiNet Limited (BNL) of the Republic of Kiribati, and Nauru Fibre Cable Corporation (NFCC) of the Republic of Nauru for construction, supply and installation of the optical fiber submarine cable system to be called East Micronesia Cable System (EMCS).
Prysmian Group is launching a new investment of around €120 million in its strategic plant in Pikkala, Finland. The investment — in addition to the €100 million already provided in 2022 — is aimed at further increasing the production capacity of the 525 kV HVDC submarine cable systems, supporting the growing market demand driven by the need to develop and upgrade power transmission grids for the energy transition.
The transaction covers the export and installation of advanced high-voltage subsea cables for the Moray West wind farm off the coast of Scotland. Export Finance Norway (Eksfin)’s global portfolio of loans and guarantees covering Norwegian exports to offshore wind projects has swelled to NOK 15bn since 2019.