NKT has signed a significant supply agreement with Hydro for low-carbon aluminium wire rods, which will last until 2033. This deal, valued at approximately EUR 1 billion, strengthens NKT’s position in the market and supports its decarbonisation efforts.
Supporting Sustainability and Decarbonisation Goals
This agreement guarantees NKT a steady supply of low-carbon aluminium, crucial for creating environmentally friendly power cables. By securing this supply, NKT enhances its ability to meet the growing demand for sustainable, decarbonised infrastructure. Claes Westerlind, CEO of NKT, emphasized that the partnership further establishes NKT as a sustainability leader in the power cable industry.
A Strategic Step for Europe’s Energy Transition
The partnership with Hydro supports Europe’s move away from fossil fuels. By sourcing responsibly from local suppliers, the deal boosts energy security and strengthens Europe’s energy transition. Eivind Kallevik, President and CEO of Hydro, stressed that the collaboration will help reduce energy prices and promote the shift to renewable power. This local supply chain will play a key role in Europe’s energy transformation.
This landmark agreement ensures NKT can meet rising demand for medium- and high-voltage power cables. It reinforces the company’s commitment to decarbonising both its operations and the power industry, while supporting Europe’s energy goals until 2033.
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