EIB Grants €250M Loan to Nexans for Energy Transition and Cable Innovation

The European Investment Bank (EIB) has approved a €250 million financing package for Nexans, a global leader in cable system design, manufacturing, and services. The financing will support the company’s research, development, and innovation (RDI) programmes for the 2024–2029 period, alongside critical industrial investments across Europe.

The operation, backed in part by the InvestEU programme, underlines the EU’s commitment to strengthening strategic industries that are central to the energy transition, electrification, and circular economy.

Industrial Investments to Boost Electrification

The loan will fund several large-scale industrial projects already announced by Nexans:

• New copper wire factory in Lens (France): Scheduled for completion by 2026, this factory will increase copper wire production by more than 50% and recycle up to 80,000 tonnes of copper annually. The site will enhance raw material security while advancing the circular economy.

• Upgrades at Charleroi (Belgium), Erembodegem (Belgium), and Calais (France): A comprehensive investment plan will strengthen these facilities to support growth in offshore wind energy and submarine interconnections, both essential for Europe’s renewable energy ambitions.

• Capacity expansion in Bourg-en-Bresse (France): The site will scale up production of low-carbon medium-voltage cables, serving growing electrification demand across France and Western Europe.

• Research and innovation: The financing will also fuel Nexans’ R&D efforts aligned with its carbon neutrality by 2050 strategy, validated by the Science Based Targets initiative (SBTi). Projects will focus on innovative cable technologies that reduce environmental impact, improve efficiency, and enhance electrification infrastructure.

Structure of the Financing

The €250 million package is split into two contracts:

• A €190 million loan guaranteed under the InvestEU programme, which supports innovation and sustainability in strategic EU sectors.

• A €60 million loan that covers the remainder of the financing.

This structure enables the EIB to maximize its commitment to Nexans, ensuring both innovation and industrial resilience.

Leaders Emphasize Strategic Importance

EIB Vice-President Ambroise Fayolle highlighted the project’s importance: “Nexans is a key player in the energy transition. Its power cables are central to electrification in Europe and vital for meeting EU decarbonisation targets. This financing will allow Nexans to speed up innovation, expand production, and secure access to copper — an essential raw material.”

Nexans CEO Christopher Guérin echoed this view: “With renewed support from the EIB and InvestEU, we will accelerate our strategy to become a leader in sustainable electrification. This financing helps us expand production, boost copper recycling, and innovate to support the energy transition and Europe’s industrial autonomy.”

Supporting EU Climate and Energy Goals

The operation aligns with broader EU strategies, particularly REPowerEU, which seeks to reduce dependence on imported fossil fuels, enhance energy security, and drive decarbonisation. By scaling cable production, advancing recycling, and fostering innovation, Nexans’ projects will play a pivotal role in Europe’s green transformation.

With electrification at the heart of clean energy, Nexans’ strengthened capabilities will support sectors ranging from renewable energy grids to urban infrastructure, ensuring Europe is better positioned to meet its 2050 net-zero targets.