French cable supplier Nexans has received 200 million euros (224 million US dollars) in loans from the European Investment Bank (EIB) to accelerate its role in the global energy transition. The loan amount will also support Nexans' commitment to achieve net zero carbon emissions by 2030.

Nexans' road to energy transition

EIB stated that Nexans’ activities are in line with the goals of the European Green Agreement. Ambroise Fayolle, Vice President of EIB, said: “Nexans’ ambitions and strategies are fully consistent with EIB’s priorities in climate, environment and innovation. For EIB, it supports the industry’s adoption of Action to respond to climate emergencies is the key. The expansion of Nexans's Halden plant, the servicing of renewable energy infrastructure, and the digital transformation of production tools are some concrete examples of Nexans’ clear roadmap. The European Investment Bank’s financing will Assigned to this roadmap."

Nexans also plans to use the loan for its research and development projects, which focus on optimizing cable performance, improving fire safety and circular economy through the use of recycled materials and recycling. This financing will help the company innovate in the field of digital services and connectivity solutions in its cloud digital factory and design laboratory. Nexans CEO Christopher Guerin said: "Thanks to EIB's commitment and the strong support they have shown, we are very pleased to be able to strengthen our investment and innovation activities to expand electrification. Keywords: engineering construction, engineering news

This financing mechanism will enable us to lead the energy transition in Europe in a sustainable manner by strengthening our innovation and reducing carbon emissions in our operations. "In July, Nexans won a contract to provide power output cables for Equinor's floating solar power plant in Norway. In February 2021, the company shared the addition of two high-voltage direct current (HVDC) at its Halden plant by 2024. The plan of the cable production line.Editor/XingWentao