Nexans stands firm on Great Sea Interconnector - Dec 9, 2025

As of December 9, today’s news sees developments regarding the Great Sea Interconnector project involving Nexans and ongoing trends in the energy sector. Nexans is at the forefront of the news as it has reaffirmed its commitment to execute the Great Sea Interconnector project, despite reports suggesting a freeze in its progress. The company stated it continues to operate in line with contractual obligations and established milestones with its customer, IPTO, the Greek electricity transmission operator. Recent media from Cyprus suggested that tenders for the project had been canceled due to a joint decision by Cyprus and Greece to update technical and economic studies. Turning to broader market conditions, a federal judge in the U.S. has overturned a halt on wind energy project approvals initiated by the Trump's administration, ruling that the agencies failed to provide adequate justification for such a moratorium. This ruling supports ongoing efforts from various states to advance renewable energy initiatives. In a related industry development, Ananym Capital has acquired a stake in Siemens Energy, urging for a review and potential spin-off of its struggling wind division, which they claim could enhance shareholder value significantly. On the corporate front, Stellantis has announced a collaboration with Bolt aimed at launching driverless ride-hailing trials across Europe by 2026, integrating advanced autonomous vehicle platforms with an expansive ride-hailing network. In another move, Microsoft is planning a significant investment exceeding 5.4 billion euros in Canada to enhance its cloud and AI infrastructure, reflecting a robust commitment to expanding its operational footprint in the region. In global manufacturing trends, China's steel exports continue to rise while aluminum shipments decline, as domestic demand fluctuates and production caps are informally set to control overcapacity. This could imply cautious forecasts for future production levels in this sector. Finally, on the geopolitical landscape, Ukrainian President Volodymyr Zelenskiy mentioned that refined documents regarding a peace plan with Russia would soon be presented to the U.S., indicating ongoing negotiations amid heightened diplomatic efforts with European allies.