24 June 2024
Renewable Energy Projects
Over the past few weeks, Sumitomo Electric issued three press releases about our power cable business that relate to renewable energy projects in Europe. The region now has a number of large-scale projects, ranging from tens of billions to hundreds of billions of yen in investments, that require products such as submarine cables for offshore wind farms and underground cables to transmit electricity from renewable sources to inland areas.
At one of the factories that will be supplying these power cables, located in Scotland, a groundbreaking ceremony was held on May 14th. I was at this ceremony and had the pleasure of meeting many government officials and local businesspeople. It was a great chance for me to get a sense of the high expectations they have in Europe for the expansion of renewable energy. I know that in Japan there is a similar urgency to diversifying energy sources and building the infrastructure needed to deliver this electricity over a wide area.
In general, demand for high-voltage power cables had been sluggish for several years before and after 2000. During this time we had our own struggles in what was a difficult business environment. But, since then, the growing adoption of renewable energy has presented our company with a big opportunity to meet customer needs, and not just with power cables. Redox flow batteries, substation equipment, energy management systems, and installation services are some of the many things we offer to this market.
I believe that the Sumitomo Electric Group, working collectively, will make the most of this important business opportunity.
Press releases
■May 14, 2024
Sumitomo Electric commences construction work for its new Subsea Cable factory in Scotland with Preferred Bidder notice received from SSEN Transmission for the Shetland 2 525kV HVDC cable project,
https://sumitomoelectric.com/press/2024/05/prs018
■May 29, 2024
Sumitomo Electric to Supply 132kV Submarine Power Cables to UK Wind Farm,
https://sumitomoelectric.com/press/2024/05/prs020
■June 6, 2024
Sumitomo Electric Makes Strategic Acquisition of German Cable Manufacturer Südkabel to Deliver Two Major HVDC Cable Projects for Amprion,
https://sumitomoelectric.com/press/2024/06/prs025
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