Offshore wind cable maker Nexans says it might turn US plant into export hub

by Reuters Nov 13, 2024

Nexans said on Wednesday it would turn its U.S.-based plant into an export hub if the offshore wind sector was challenged under Donald Trump's second stint as president.

The French power and data cable specialist's plant in Charleston, South Carolina makes undersea cables used by the U.S. offshore wind market.

During its Capital Markets Day event, Nexans management said it could redirect U.S.-made cables to Europe with little impact on its margins.

"I think we are risk-free when it comes to a worsening case, Trump stopping any tendering U.S. offshore activity in the next four years in the U.S.," said Jean-Christophe Juillard, Nexans' deputy CEO and chief financial officer.

The offshore wind industry is bracing for a U.S. impact, with two of the world's biggest players in the sector, Siemens Energy and RWE, warning of challenges and potential delays for the technology slammed by the president-elect on Wednesday.

Reuters

{afn_job_title}

Similar Stories

https://www.ajot.com/images/uploads/article/TIE01172025.png

Today in Energy: A look back at our forecast for global crude oil prices in 2024

View Article

Daphne Technology and Williams secure DOE grant to advance methane emission reduction technology

Daphne Technology, in partnership with Williams, has announced the award of a grant worth nearly $6M from the U.S. Department of Energy's (DOE) Methane Emissions Reduction Program (MERP).

View Article

https://www.ajot.com/images/uploads/article/am-solar-prize-round8-hero.jpg

Solar Prize Round 8 semifinalists & power up contest winners

View Article

Biofuel can deliver significant GHG emissions reductions but future uptake could be hampered by supply, says DNV

According to DNV’s latest white paper “Biofuels in Shipping”, key biofuels like FAME and HVO have great potential for reducing greenhouse gas (GHG) emissions and supporting compliance with maritime regulations,…

View Article