- The operation is partly backed by an InvestEU guarantee.
- The loan will enable Nexans to speed up investments in its research and development programme, as well as in its cable production and copper recycling capacities, optimising the use of raw materials and developing the circular economy.
- This financing is also part of the EIB’s support for REPowerEU, the programme to strengthen the European Union’s energy autonomy.
The European Investment Bank (EIB) has provided €250 million in financing to Nexans, a global leader in cable system design, manufacturing and associated services. The loan will back Nexans’ research, development and innovation programmes for 2024-2029, together with some industrial investments.
These investments will cover projects including:
- The construction of a new factory in Lens by 2026, increasing copper wire production by more than 50% and recycling up to 80 000 tonnes of copper a year. This will be a major asset for strengthening the group’s industrial foothold, securing raw material supplies and boosting the circular economy. This project was announced in October 2024.
- Strengthening of the Charleroi, Erembodegem and Calais sites, with a comprehensive investment programme to support growth in offshore wind and submarine interconnections. This project was announced in September 2024.
- Capacity expansion at the Bourg-en-Bresse site to meet growing electrification demand in France and across Western Europe, particularly via the production of low-carbon medium-voltage cables. This project was announced in August 2024.
- Research and development projects aligned with Nexans’ strategy to drive the global energy transition and contribute to reaching carbon neutrality by 2050, in line with the Science Based Targets initiative (SBTi).
The €250 million financing is structured over two contracts, including a €190 million loan with a guarantee under the InvestEU programme, which backs innovation, sustainability and competitiveness in strategic sectors of the EU economy. This EU support enables the EIB to maximise its commitment to Nexans’ research, development and innovation, together with its industrial and recycling investments. A second, €60 million loan comprises the remainder of the financing.
EIB Vice-President Ambroise Fayolle said: “Nexans is a key player in the energy transition. Its state-of-the-art power cables are central to the electrification of our societies and industries and are playing a vital role in meeting EU decarbonisation targets. This EIB financing will enable the company to speed up its innovation, develop its production capacities and further secure access to copper, an important raw material. It is for these reasons that the European Union is once again backing Nexans’ investment programme.”
Nexans CEO Christopher Guérin said: “This renewed EIB and InvestEU support will enable us to accelerate our industrial and innovation strategy to make Nexans a key player in sustainable electrification in Europe. With this financing, we will be able to further expand our production capacity, bolster copper recycling and innovate even more to back the energy transition and European industrial autonomy.”
The operation is also fully in line with the REPowerEU programme, particularly due to the importance of Nexans’ activities in promoting electrification and decarbonisation at all levels from production to end use.
Background information
EIB
The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. The EIB finances investments in eight core priorities that support EU policy objectives: climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and the bioeconomy, social infrastructure, a stronger Europe in a more peaceful and prosperous world and Europe’s capital markets union. The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security. In France, the EIB Group signed more than 100 agreements in 2024, totalling €12.6 billion. Almost 60% of annual EIB Group financing supports projects that contribute to climate change mitigation and adaptation, and a healthier environment.
Nexans
Nexans is the global pure player in sustainable electrification, building the essential systems that power the world’s transition to a connected, resilient and low-carbon future. From offshore and onshore renewable energies to smart cities and homes, Nexans designs and delivers advanced cable solutions, accessories and services that electrify progress safely, efficiently and sustainably. With over 140 years of history, through three core businesses – PWR Transmission, PWR Grid, and PWR Connect – Nexans blends deep industry expertise with cutting-edge innovation to accelerate the energy transition and better meet its customers’ needs. Its unique E3 model, focused on environment, economy and engagement, drives every action, aligning performance with purpose. Nexans operates in 41 countries with 28 500 employees and generated €7.1 billion in standard sales in 2024. As a recognised climate action leader, Nexans is committed to net zero emissions by 2050 aligned with the Science Based Targets initiative (SBTi) and expanding energy access through the Fondation Nexans.
Nexans is listed on Euronext Paris, Compartment A.
InvestEU
The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps to attract private investment for the European Union’s policy priorities, such as the European Green Deal and the digital transition. The InvestEU programme brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme has three components: The InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.
