Friedrich Vorwerk Group SE

  • WKN: A255F1
  • ISIN: DE000A255F11
  • Land: Deutschland

Nachricht vom 12.05.2022 | 08:47

FRIEDRICH VORWERK wins major contract for cable laying and cable logistics for the new high-voltage transmission line SuedLink

DGAP-News: Friedrich Vorwerk Group SE / Key word(s): Incoming Orders
FRIEDRICH VORWERK wins major contract for cable laying and cable logistics for the new high-voltage transmission line SuedLink
12.05.2022 / 08:47
The issuer is solely responsible for the content of this announcement.

FRIEDRICH VORWERK wins major contract for cable laying and cable logistics for the new high-voltage transmission line SuedLink

Tostedt, 12 May 2022 – Friedrich Vorwerk Group SE (ISIN DE000A255F11), a leading supplier in the field of energy infrastructure, wins the major contract for cable laying and cable logistics for the planned high-voltage direct-current (HVDC) transmission line SuedLink. The order has a total volume of more than €80 million and will be realized by a joint venture consisting in equal parts of Vorwerk power specialist Bohlen & Doyen Bau GmbH and ea.R Energieanlagen Ramonat GmbH, a market leading expert for the installation of underground high-voltage cable systems. Friedrich Vorwerk thus once again demonstrates its excellent positioning in the fast-growing electricity sector and will become a key contributor to one of the most important energy infrastructure pilot projects in Europe.

The new SuedLink transmission line jointly planned by the Transmission System Operators (TSOs) TenneT and TransnetBW is considered a key grid expansion project for a successful energy transition in Germany. The approximately 700-km-long electricity highway will bundle the green hydropower transported from Norway and transport it to the main consumer centers in the south of the country. As such, the SuedLink project makes an important contribution to ensuring a secured and decarbonized power supply in Germany. The contract was awarded by the turnkey cable system provider NKT and includes cable laying and last-mile cable logistics along almost the entire route from the Brunsbüttel converter station in Schleswig-Holstein to Großgartach in Baden-Württemberg.

Against the background of the new 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 are being massively expanded to bridge the gap created by the ongoing nuclear and coal phase-out. To prepare the already heavily congested transmission network for this transition, the German electricity infrastructure is facing an unprecedented investment program. The current Grid Development Plan 2035 (2021) envisages an investment volume of up to €79 billion over the planning period, a large proportion of which is earmarked for expanding north-south transmission capacity through new electricity highways. Since 2015, all new HVDC transmission lines are required to be realized as underground cable lines by law. In addition to cable laying and logistics, this results in substantial project volumes in the area of underground cable line construction (incl. HD drilling), which are put out to tender separately. Based on its broad service and technology portfolio and decades of experience in power cable construction, FRIEDRICH VORWERK hence expects demand in this area to grow strongly in the future.

 

Contact

Friedrich Vorwerk Group SE
Niedersachsenstraße 19-21
21255 Tostedt
Phone +49 4182 – 2947 0
Fax +49 4182 - 6155
ir@friedrich-vorwerk.de
www.friedrich-vorwerk.de/en/

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



12.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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