Offshore wind in Poland is picking up steam and NKT is now leading the expansion in the country – the local executive is preparing for the market opportunities emerging in Poland with the green transition, NKT’s announcement reads.
Poland is switching to green energy at an increasingly rapid pace. NKT is currently expanding into the local market by opening an executive center to prepare for the growing demand for power cables for both onshore and offshore applications. The centre will be located in Gdynia, Poland, close to the Baltic Sea where several offshore wind farms are planned to be deployed. NKT views investments in new Polish facilities as natural steps in its long-term commitment to the country.
– The growing interest in renewable energy in Poland is not only a great thing for the environment. This interest also provides us with growth opportunities in the emerging offshore wind market, as well as with the demand for grid reinforcement. Our company has already made a strong mark in Poland and it seems natural for us to take action and strengthen our position in this country with a new executive center, says Alexander Kara, CEO at NKT.
The company is preparing to support Poland’s transition to renewable energy, spearheaded by the country’s ambition to build offshore wind farms in the Baltic Sea with up to 11 GW of installed capacity by 2040. When analyzing growth opportunities in the Polish market, it should be remembered that NKT enjoys an excellent strategic position thanks to its high voltage plants in Karlskrona (Sweden) and Cologne (Germany).
NKT expects to hire its first power cable installers by the end of 2021 and will also hire additional staff at the executive center as potential market opportunities arise with the first offshore wind projects coming to fruition in the coming years.
With two manufacturing facilities in Poland specializing in the production of wire, low-voltage power cables and PVC pellets, NKT is also well positioned to meet the demand for power cables, which is growing due to the expected strengthening of the nationwide power grid.