Company Announcement

4 March 2026
Announcement no. 5

In company announcement no. 24 of 15 September 2025, NKT informed that the company was selected as the preferred bidder for the power cable project Eastern Green Link 3 (EGL3). Now, NKT has signed a firm contract with the customer, a joint venture between National Grid Electricity Transmission and SSEN Transmission, to deliver the high-voltage direct current (HVDC) power cable system for the transmission project.

With a value of more than EUR 2.2bn, the EGL3 order is the largest contract for a single cable project in NKT's history, and it has now been added to the high-voltage order backlog. The project comprises a turnkey scope to design, manufacture, and install a 525 kV HVDC power cable system with a route length of around 680 km, including both onshore and offshore cable sections. The joint venture will manage the civil works for the project. EGL3 will play a central role in ensuring an affordable, reliable and clean power supply in the UK.  by removing bottlenecks in the transmission grid.

- Signing the contract for EGL3 is a significant milestone for NKT and for the reinforcement of Great Britain's power system. We are very proud to take this important step with National Grid and SSEN Transmission. It further strengthens our long-term collaboration and reflects the trust our partners place in NKT as we work together to advance the UK's energy transition. With our proven expertise in HVDC technology, we look forward to delivering the power cable system that will reinforce the grid and support a cleaner, more reliable energy supply in the future, says Claes Westerlind, President and CEO of NKT.

EGL3 is the largest electricity transmission investment of its kind ever in the UK and will play a crucial role in strengthening grid resilience and efficiency. The 525kV HVDC link will enable efficient transmission of renewable energy from the North of Scotland to demand centres in the South. This will ensure the delivery of affordable, reliable and clean power for up to 2 million homes and businesses across the UK.

Important milestone

For the two transmission owners behind the joint venture, the firm contract on EGL3 is an important step in realising the ambitions to strengthen the energy system in the UK. 

- Signing this contract is a major milestone for EGL3 and for the joint venture between National Grid and SSEN Transmission. By working with world-class supply chain partners, we are investing in infrastructure that will reduce constraint costs, strengthen energy security and ensure more clean electricity can flow to homes and businesses across the country, while also supporting jobs and economic growth in the regions, says Mark Brackley, Project Director for EGL3 at National Grid. 

He is supported by James Johnson, Deputy Project Director for EGL3 at SSEN Transmission:

 - EGL3 is a vital investment in the UK's future energy system. By securing the power cable contract, we are taking a decisive step towards strengthening the electricity network so more clean, homegrown power can flow from where it is generated to where it is needed most. This project will play a key role in cutting constraint costs, supporting consumer affordability and delivering long-term economic benefits, while building the resilient infrastructure required to meet the UK's energy security and clean power ambitions.

EGL3 forms part of a broader programme of strategic grid reinforcements being delivered jointly by the UK's electricity transmission owners. Together, these projects will enhance the capability of the national network to transmit renewable energy efficiently across Great Britain, supporting the continued development of a resilient and sustainable power system.

 Key facts:

• Customer: Joint venture between National Grid Electricity Transmission and SSEN Transmission
• Contract value: More than EUR 2.2bn (more than EUR 1.7bn in standard metal prices)
• Capacity: Up to 2 GW
• Project scope: 
  • Cable design, engineering, production, and installation both on- and offshore
  • Route length approximately 680 km of 525 kV on- and offshore HVDC power cables
• Schedule: Expected commissioning at the end of 2033

Contact

Investors

Jacob Johansen, Head of Investor Relations
+45 2169 3591 / jacob.johansen@nkt.com
 

Press 

Louise Westh Naldal, Head of Group Communications

+45 2982 0022 / louise.westh.naldal@nkt.com