The European Investment Bank (EIB) will support Nexans’ research, development and innovation programmes for 2024–2029, as well as a range of industrial investments.
The financing amounts to €250 million. The planned projects include:
- Construction of a new factory in Lens by 2026, raising copper wire production by more than 50% and recycling up to 80,000 tonnes of copper annually. This was announced in October 2024.
- Upgrades at the Charleroi, Erembodegem and Calais sites through an investment programme focused on offshore wind and submarine interconnections. This was announced in September 2024.
- Capacity expansion at the Bourg-en-Bresse site to meet growing electrification demand in France and Western Europe, particularly in low-carbon medium-voltage cables. This was announced in August 2024.
- Research and development projects aligned with Nexans’ energy transition strategy and its Science Based Targets initiative (SBTi) pathway to carbon neutrality by 2050.
The €250 million financing is divided into two contracts: a €190 million loan with a guarantee under the InvestEU programme, supporting innovation and sustainability in strategic EU sectors, and a €60 million loan covering the balance.
