Nexans selected as Preferred Supplier for Strategic Mallorca-Menorca Power Cable Project with Red Eléctrica
The preferred-supplier selection precedes a six-month engineering phase intended to lay the groundwork for a future delivery contract.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Nexans (NEXNY) has been selected by Red Eléctrica as preferred supplier for the Mallorca-Menorca 3 power interconnection project.
Execution of the agreement will initiate a six-month engineering phase covering subsea and land cable infrastructure for a new 132 kV link. The tender envisages a future engineering, procurement, construction and installation contract, with contract signature and project delivery starting in mid-2027. Nexans says the interconnection is designed to strengthen electricity supply security and resilience in the Balearic Islands and reduce Menorca's dependence on fossil-fuel electricity generation after delivery.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointPreferred-supplier selection by Red Eléctrica advances Nexans' involvement in the Mallorca-Menorca 3 interconnection.
- Minor pointEngineering scope covers both subsea and land cable infrastructure under the agreement.
Negative
- Moderate pointFuture delivery contract remains unsigned; the tender envisages signature and project delivery starting in mid-2027.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Nexans selected as Preferred Supplier for Strategic Mallorca-Menorca Power Cable Project with Red Eléctrica
_PRESS RELEASE_
- Preferred Supplier with Red Eléctrica for the Mallorca-Menorca 3 interconnection project.
- The tender launched by Red Eléctrica for this project included a six-month collaborative engineering phase to set the grounds for an EPCI contract signature and start of Project delivery mid-2027.
- Strategic infrastructure project to strengthen the security and resilience of the Balearic Islands electricity network.
Paris, France, October 22, 2026 – Nexans, a global leader in electrification, has been selected as Preferred Supplier by Red Eléctrica, Redeia's subsidiary responsible for electricity transmission and the operation of Spain's power systems, for the Mallorca-Menorca 3 interconnection project. This is a strategic power infrastructure initiative designed to strengthen the security and resilience of electricity supply in the Balearic Islands.
In accordance with the specific terms of the tender launched by Red Eléctrica for this project, the execution of the agreement will initiate a six-month engineering phase for a new 132 kV HVAC cable link between Mallorca and Menorca and lay the foundation for a future EPCI Contract. The project represents the next stage in the development of the electrical connection between the two islands and will support the long-term reliability and stability of the regional power system. The Menorca Island after delivery of this critical link by Nexans will significantly reduce its dependency on fossil fuel electricity generation.
Under the agreement, Nexans will conduct engineering activities for a comprehensive cable system incorporating both subsea and land cable infrastructure. The scope builds on Nexans' longstanding experience delivering complex interconnection projects and its established presence in the region.
"Nexans is proud to have been selected by Red Eléctrica for this strategic project," says Pascal Radue, EVP of PWR-Transmission at Nexans. “The Mallorca-Menorca interconnection is an important infrastructure investment that will help reinforce network resilience and support the energy transition in the Balearic Islands. This agreement reflects the confidence placed in Nexans' end-to-end capabilities and our track record in delivering reliable and sustainable electrification solutions."
The project will leverage Nexans' expertise across engineering, manufacturing and installation. Particular attention will be given to environmental stewardship throughout project planning and execution, reflecting the ecological sensitivity of the project area.
The new interconnection builds on Nexans' previous contribution to the existing electrical link between Mallorca and Menorca and further strengthens the long-standing collaboration between the two companies.
About 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 39 countries with 12,830 people and generated
Nexans is listed on Euronext Paris, Compartment A.
www.nexans.com | #ElectrifyTheFuture
Contacts:
| Communication Mael Evin (Havas Paris) Tel.: +33 (0)6 44 12 14 91 nexans_h@havas.com Maellys Leostic maellys.leostic@nexans.com Olivier Daban olivier.daban@nexans.com | Investor relations Audrey Bourgeois Tel.: +33 (0)1 78 15 00 43 audrey.bourgeois@nexans.com |
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