Nordenham, Germany
General Cable Corporation (NYSE:BGC) reported that its subsidiary, Norddeutsche Seekablewerke GmbH (NSW), has been awarded its first submarine power contract by BARD Engineering GmbH, for more than $30 million related to the construction of BARD Offshore 1. BARD Offshore 1 is a 400 megawatt wind farm consisting of 80 wind turbines that will be located north-west of the Isle of Borkum in the North Sea.
BARD Offshore 1 is the first commercial wind farm to be located in the North Sea and is expected to be completed in 2010. NSW will produce approximately 66 miles of power cable for the infield infrastructure portion of the project which will harness the electricity generated by the turbines for transmission back to shore. The field will be located in water 75 miles offshore with a depth of approximately 130 feet. "We believe that the North Sea will be an area of high growth for wind power generation due to its ideal conditions of high sustainability of wind and shallow waters, key factors allowing for efficient use of the turbines and for anchoring the windmill towers. With its long history and experience in submarine cabling systems, NSW is ideally positioned to take advantage of this high growth opportunity," said Valentin Jug, Chairman of NSW.
General Cable acquired NSW in April 2007 and began an investment program to expand the capability of the facility to include submarine power cables and repeatered submarine telecommunications cable. NSW is located on a tributary of the North Sea, with its own deep-sea pier. The Company believes that once the expansion of NSW is completed, it will be well positioned to address all aspects of submarine cable needs for the expanding offshore wind farm market.
NSW, headquartered in Nordenham, Germany, is a leading manufacturer of submarine fiber optic communications and offshore power cables serving customers all over the world. For more information about NSW, please visit our website at www.nsw.de.
General Cable is a global leader in the development, design, manufacture, marketing and distribution of copper, aluminum and fiber optic wire and cable products for the energy, industrial, and communications markets. Visit our website at www.generalcable.com.
Certain statements in this press release, including without limitation, statements regarding future financial results and performance, plans and objectives, capital expenditures and the Company's or management's beliefs, expectations or opinions, are forward-looking statements. Actual results may differ materially from those statements as a result of factors, risks and uncertainties over which the Company has no control. Such factors, risks, and uncertainties are more fully discussed in the Company's Report on Form 10-K filed with the Securities and Exchange Commission on March 1, 2007, as well as periodic reports filed with the Commission.
Source: Business Wire (Business Wire India)