Belgian Cenergy Holdings has passed the first milestone for the development of a cable manufacturing facility in Maryland, the U.S., by reaching a final investment decision (FID).
The company announced in April that its U.S. subsidiary Hellenic Cables Americas is planning to build a new cable manufacturing facility in Baltimore, of approximate value of $300 million.
The first step towards the implementation has been completed and the company acquired a 153,800 square meter waterfront property at Wagners Point, after the completion of an extensive due diligence process and all customary approvals.
The first phase includes the construction of a land cables plant to address the States’ need for transmission and distribution grid upgrades of a cost of circa $200 million, including the property acquisition.
According to the company, the design is complete, permitting is on track and construction works are expected to commence by the end of the year.
The second phase shall include the further expansion to manufacturing submarine cables subject to firm developers’ offtake agreements and related final development decisions.
Furthermore, Cenergy reported that, following Ørsted’s decision to reposition its Skipjack offshore wind farm , discussions related to potential collaboration between the two companies have paused and will be revisited as this repositioning effort evolves.