Friedrich Vorwerk Group SE / DE000A255F11
05.06.2024 - 09:37:10FRIEDRICH VORWERK wins contract for the realization of the land cable connections in the offshore grid connection projects BalWin3 and LanWin4 with a volume well in the three-digit million range
| Friedrich Vorwerk Group SE / Key word(s): Incoming Orders 05.06.2024 / 09:37 CET/CEST The issuer is solely responsible for the content of this announcement. Tostedt, June 5, 2024 – Friedrich Vorwerk Group SE (ISIN DE000A255F11), a leading provider in the field of energy infrastructure, and its subsidiary Bohlen & Doyen have successfully acquired the contract for the realization of the onshore underground cable connections in the BalWin3 and LanWin4 offshore connection projects. The contract awarded by cable manufacturer Nexans covers the entire onshore sections, each around 45 km long, from the landfall point on the coast of Lower Saxony to the future converter station in Wilhelmshaven. The two connecting lines run parallel for long stretches and are therefore to be installed together as part of one overall project. The total volume of the order for FRIEDRICH VORWERK is well into the three-digit million range. The BalWin3 and LanWin4 offshore connection projects planned by transmission system operator TenneT are important measures in the German energy transition. The direct current connections, which are over 220 km long and each have a capacity of 2 GW, will transport green electricity from the offshore wind farms in the North Sea to the German mainland, enabling it to be fed into the existing high voltage grid. They alone are expected to supply up to 5 million households in Germany with renewable electricity in the future. Following the complex planning and approval phase, the laying of the land cable connection is to be realized from 2026. Commissioning of the complete system is scheduled for 2031. Against the backdrop of the German government's comprehensive electrification plans for transport, industry and buildings, electricity consumption is expected to double by 2045. At the same time, renewable energies will be massively expanded to decarbonize the electricity sector. In order to prepare the already heavily overloaded transmission grid for this transformation, the German electricity infrastructure is facing an unprecedented investment program. According to the Electricity Network Development Plan 2023-2037/2045 (NEP Electricity), around 4,800 km of new lines are to be built by 2045. The estimated investment volume for these measures amounts to €320 billion. Due to its extensive service and technology portfolio and decades of experience in land cable construction, FRIEDRICH VORWERK expects demand in this area to continue to grow strongly in the future. Contact Details Friedrich Vorwerk Group SE Harburger Straße 19 21255 Tostedt Tel +49 4182 – 2947 0 Fax +49 4182 - 6155 ir@friedrich-vorwerk.de www.friedrich-vorwerk-group.de Management Board Torben Kleinfeldt (CEO) Tim Hameister Chairman of the Supervisory Board Dr Christof Nesemeier Court of Registration District Court of Tostedt, registration number: HRB 208170 05.06.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com |
| Language: | English |
| Company: | Friedrich Vorwerk Group SE |
| Harburger Straße 19 | |
| 21255 Tostedt | |
| Germany | |
| E-mail: | ir@friedrich-vorwerk.de |
| Internet: | www.friedrich-vorwerk-group.de |
| ISIN: | DE000A255F11 |
| WKN: | A255F1 |
| Listed: | Regulated Market in Frankfurt (Prime Standard) |
| EQS News ID: | 1918641 |
| End of News | EQS News Service |
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