French cable maker Nexans announced it could shift its U.S. plant operations in Charleston, South Carolina, to serve as an export hub if offshore wind projects face challenges under a second Trump presidency. This plant currently produces undersea cables for the U.S. offshore wind sector, Reuters news report said.
Nexans’ Deputy CEO, Jean-Christophe Juillard, expressed confidence that the company would not face significant risks even if Trump suspends U.S. offshore wind initiatives. He assured that redirecting cables to Europe would have minimal impact on margins.
The offshore wind industry is on alert for potential shifts, with major players like Siemens Energy and RWE warning of hurdles and possible project delays in the U.S. under the new administration.
Prysmian, the world’s largest cable manufacturer, revealed its €18 billion ($19.13 billion) transmission business is fully concentrated in Europe, with no dependency on the U.S. market. The Italian company, with about 40 percent global market share in power transmissions, noted it doesn’t anticipate significant impact from a Trump presidency.
Analysts suggest that companies with U.S. production facilities may benefit from tariffs favoring local manufacturing. Nexans, meanwhile, foresees the global transmission market maintaining an annual value of €15 billion until 2030.