A subsidiary of a Belgian-based company plans to build a cable plant in Baltimore’s Wagner’s Point to serve the offshore wind and power grid industries, creating 120 manufacturing jobs by the end of 2026.
Hellenic Cables Americas, a subsidiary of Cenergy Holdings, acquired a 39 acres along the Patapsco River for the factory. In a $200 million first phase, which includes land acquisition costs, the company plans to start building a land cables plant by the end of the year to serve a growing need for transmission and distribution upgrades to the power grid. It plans to add sub-sea cable manufacturing in a second phase.
The plant is expected to support hundreds of direct and indirect jobs, Gov. Wes Moore said in an announcement Friday.
Hellenic expects to hire about 200 people in trades-related jobs during construction, then 120 people when the factory is completed. About 250 indirect jobs are expected to be created during construction and after the factory opens.
“We don’t have to choose between a green economy and a growing economy — we can, and we will, choose both,” Moore said in a news release.
Cenergy owns and operates companies in the energy transfer, renewables and data transmission industries. Hellenic Cables is one of Europe’s largest cable producers, making both power and telecom cables and sub-sea cables for offshore wind. Hellenic Cables received a federal energy project tax credit this spring to go toward the Baltimore facility.
“We are excited to be part of Maryland’s expanding role in building a robust U.S. based supply chain for power transmission,” said Thanasis Molokotos, Cenergy’s senior executive, in Friday’s announcement.
Originally Published: July 19, 2024 at 3:27 p.m.