NKT announced a €1 billion investment as part of its NKT high-voltage cable expansion in Karlskrona, Sweden. The large-scale initiative addresses the growing demand for offshore power infrastructure worldwide. It includes a new production factory, a third 200‑meter extrusion tower, and a next-generation cable-laying vessel with record capacity.
According to the company’s press release, strong demand and an order backlog of more than €7 billion at the end of Q1 2023 drive these new investments. Since March 2023, NKT has secured over €5 billion in high-voltage cable contracts. This growth reinforces NKT’s position as a global leader in sustainable power transmission.
The expansion will transform Karlskrona into the world’s largest offshore cable manufacturing site. The new factory will increase production capacity, improve efficiency, and enable NKT to deliver turnkey systems for offshore wind and interconnector projects. By expanding on this scale, the company strengthens its role in Europe’s transition to renewable energy.
NKT has already created over 300 jobs in Karlskrona since 2020, and the latest investment will add more than 500 new positions by 2027. The growing workforce will support higher production output and broader operations. Together, these efforts ensure NKT keeps pace with the accelerating global demand for high-voltage cables.
President and CEO Claes Westerlind said that NKT will continue expanding “in line with our strategic ambitions” to enhance its turnkey power cable solutions. The new assets and cable-laying vessel should become operational by 2027, further advancing NKT’s long-term growth strategy.
This program builds on earlier investments begun in 2020 to meet demand across Europe’s major energy infrastructure projects. The company completed its second extrusion tower during that phase and announced further improvements in 2022. With this latest €1 billion initiative, NKT positions itself for even stronger growth in the evolving renewable energy market.
