Nexans (Euronext Paris: 0IGF), the global electrification group, has signed a subcontract with Hellenic Cables and Asso.subsea to deliver a 420 km Mass-Impregnated (MI) 110 kV cable system for the Corinth-Kos HVDC interconnection in Greece. The project, awarded by Greece's Independent Power Transmission Operator (IPTO) to Hellenic Cables, forms part of a 1 GW, 320 kV link comprising approximately 1,260 km of subsea cable and 30 km of land cable connecting the Dodecanese islands to mainland Greece. The announcement states that production activities on Nexans' MI cable lines will run from end-2026 through to mid-2028, providing sustained manufacturing workload across that period. Investors may be watching the contract as further evidence of Nexans' positioning in high-voltage subsea infrastructure.

Key Points

  • Nexans SA (Euronext Paris: 0IGF), global pure-play electrification group with €6.1 billion in standard sales in 2025
  • Nexans has signed a subcontract with Hellenic Cables and Asso.subsea to supply a 420 km MI 110 kV cable system for the Corinth-Kos HVDC interconnection
  • The broader project spans approximately 1,260 km of subsea cable and 30 km of land cable; MI production line activity runs from end-2026 to mid-2028
  • Investors should watch how the project contributes to Nexans' PWR-Transmission division utilisation and order backlog through 2028

Corinth-Kos HVDC Link: Scale and Strategic Significance for Greek Grid Connectivity

The Corinth-Kos interconnection is described in the announcement as one of the most ambitious power transmission projects in the Mediterranean region. Rated at 1 GW and 320 kV, the project will physically link the Dodecanese islands to the Greek mainland, strengthening the resilience and integration of Greece's national electricity network. The total cable scope encompasses approximately 1,260 km of subsea cable and 30 km of land cable, making it a substantial undertaking for the consortium of Hellenic Cables and Asso.subsea, which received the award from IPTO, the Greek state transmission operator.

Nexans' 110 kV MI Cable System Role and Production Line Utilisation to Mid-2028

Within the consortium structure, Nexans is responsible for delivering the 110 kV MI cable system, which the announcement describes as a critical component enabling safe and reliable operation of the HVDC link. The company has confirmed that project-related activities on its MI cable production lines, alongside a seabed survey, have already commenced. These activities are expected to utilise Nexans' MI production capacity from end-2026 throughout 2027 and continuing to mid-2028, providing a defined workload horizon of roughly eighteen months across its manufacturing operations. The company did not disclose the financial value of the subcontract in the announcement.

Nexans' Mediterranean Subsea Cable Strategy and Energy Transition Exposure

The announcement positions the Corinth-Kos project as consistent with Nexans' broader strategic focus on complex subsea cable systems and high-voltage grid infrastructure. Operating across 39 countries with 12,830 employees and generating €6.1 billion in standard sales in 2025, Nexans serves the interconnection market through its PWR-Transmission division. As European governments accelerate grid modernisation to support offshore renewables and island connectivity, demand for HVDC cable systems represents a structural growth driver for the group, though project delivery complexity and supply chain concentration in specialised MI cable production remain sector-specific risks.