Everything you didn’t know you should know about subsea export cables
You may not currently think much about subsea export cables or even know what they are. But as the offshore wind revolution ramps up for Americans in particular, all the components that transport clean energy from wind turbines to US households will become more familiar. That’s where Nexans comes in. The Paris-based global cable company is going to provide vital subsea export cables to three offshore wind projects in the United States, and those cables will bring the power to the mainland.
Electrek spoke with Ragnhild Katteland, executive vice president, subsea & land systems business group at Nexans and CEO of Nexans Norway, about the big US offshore wind projects the company is a part of, what she thinks makes the US offshore wind market unique, and what she predicts will happen in the US offshore wind market in 2023.
Electrek: What does Nexans do, and what is the company’s current role in the US offshore wind revolution?
Ragnhild Katteland: Nexans designs, manufactures, and installs subsea export cable systems for offshore wind farms. We believe that offshore wind is one of the most effective solutions in overcoming the challenges associated with climate change. Nexans makes and delivers cables from the only subsea high-voltage cable manufacturing facility in the US.
Electrek: At what stage are the US projects that Nexans is participating in?
Ragnhild Katteland: Nexans has signed three contracts to date for the US market. The first and second project are Southfork Wind Farm and Revolution Wind, both being developed by Orsted and Eversource. The cables are currently being manufactured at our facility in South Carolina, the only facility of its kind on US soil. Empire Wind, developed by Equinor and BP, is another project for which we will deliver a full turnkey export cable system solution, and we have more East Coast projects in the pipeline.
Electrek: What does Nexans predict will happen in the US offshore wind market in 2023?
Ragnhild Katteland: With construction beginning on key offshore wind farms in the Northeast and other projects reaching different milestones and being finalized across the country, 2023 will be a ramp-up year for growth in offshore wind, and we are excited to be part of this important journey for what the future will hold from then through 2030.
Electrek: Tell me three facts that everyone should know about subsea export cables.
Ragnhild Katteland: One, without subsea export cables, there would be no electricity delivered to the onshore grid and to the consumers.
Two, they come in a variety of types, sizes, and voltage levels such as AC and DC cables, and are custom-made for each offshore wind farm.
Three, subsea interconnectors are another crucial part of electrical infrastructure and help deliver sustainable electricity from areas with a high potential for generation to places with higher demand.
Read more: The world’s longest subsea cable will send clean energy from Morocco to the UK
Photos: Nexans
Ragnhild Kattleland has held various management positions in engineering, sales, purchasing and project management since she joined Nexans (previously Alcatel) in 1993. Since March 2018, she has been vice president of Subsea & Land Systems Business Group, and CEO of Nexans Norway, since September 2019.
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Tesla’s Q2 results are in, and they are way, way down from Q2 of 2024. At the same time, Nissan seems to be in serious trouble and the first-ever all-electric Dodge muscle car is getting recalled because its dumb engine noises are the wrong kind of dumb engine noises. All this and more on today’s deeply troubled episode of Quick Charge!
We’ve also got an awesome article from Micah Toll about a hitherto unexplored genre of electric lawn equipment, a $440 million mining equipment deal, and a list of incompetent, corrupt, and stupid politicians who voted away their constituents’ futures to line their pockets.
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OpenAI is distancing itself from Robinhood‘s latest crypto push after the trading platform began offering tokenized shares of OpenAI and SpaceX to users in Europe.
“These ‘OpenAI tokens’ are not OpenAI equity,” OpenAI wrote on X. “We did not partner with Robinhood, were not involved in this, and do not endorse it.”
The company said that “any transfer of OpenAI equity requires our approval — we did not approve any transfer,” and warned users to “please be careful.”
Robinhood announced the launch Monday from Cannes, France, as part of a broader product showcase focused on tokenized equities, staking, and a new blockchain infrastructure play. The company’s stock surged above $100 to hit a new all-time high following the news.
“These tokens give retail investors indirect exposure to private markets, opening up access, and are enabled by Robinhood’s ownership stake in a special purpose vehicle,” a Robinhood spokesperson said in response to the OpenAI post.
Robinhood offered 5 euros worth of OpenAI and SpaceX tokens to eligible EU users who signed up to trade stock tokens by July 7. The assets are issued under the EU’s looser investor restrictions via Robinhood’s crypto platform.
“This is about expanding access,” said Johann Kerbrat, Robinhood’s SVP and GM of crypto. “The goal with tokenization is to let anyone participate in this economy.”
The episode highlights the dynamic between crypto platforms seeking to democratize access to financial products and the companies whose names and equity are being represented on-chain
U.S. users cannot access these tokens due to regulatory restrictions.
Despite the warnings, BYD continues introducing new discounts. On Wednesday, BYD’s luxury off-road brand began offering over 50% Huawei’s smart driving tech.
BYD introduces new discounts on smart driving tech
After BYD cut prices again in May, the China Automobile Manufacturers Association (CAMA) warned that the ultra-low prices are “triggering a new round of price war panic.”
Although they didn’t single out BYD, it was pretty obvious. BYD slashed prices across 22 of its vehicles by up to 34%, triggering several automakers to follow suit in China.
BYD’s cheapest EV, the Seagull, typically starts at about $10,000 (66,800 yuan). After the price cuts, the Seagull is listed at under $8,000 (55,800 yuan).
It doesn’t look like China’s EV leader plans to slow down anytime soon. Fang Cheng Bao, BYD’s luxury off-road brand, introduced new discounts on Huawei’s smart driving tech on Wednesday.
The limited-time offer cuts the price of Huawei’s Qiankun Intelligent Driving High-end Function Package to just 12,000 yuan ($1,700).
Buyers who order the smart driving tech in July will save over 50% compared to its typical price of 32,000 yuan ($4,500).
Earlier this year, Fang Chang Bao launched the Tai 3, its most affordable vehicle, starting at 139,800 yuan ($19,300). The Tai 3 is about the size of the Tesla Model Y, but costs about half as much.
The Tai 3 will spearhead a new sub-brand of electric SUVs following the more premium Bao 8 and Bao 5 hybrid SUVs.
BYD’s luxury off-road brand sold 18,903 vehicles last month, up 50% from May and 605% compared to last year. Fang Cheng Bao has now sold over 10,000 vehicles for three consecutive months.
The Chinese EV giant sold 382,585 vehicles in total in June, an increase of 12% from last year. In the first half of the year, BYD’s cumulative sales reached over 2.1 million, a YOY increase of 33%.
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