£30M UKEF Guarantee Fuels JDR Cables’ Renewable Energy Expansion

JDR Cable Systems (JDR), a Cambridgeshire-based global subsea cable supplier, has secured a £30 million financing package backed by an 80% guarantee from UK Export Finance (UKEF). The financing, supported by HSBC UK, Société Générale, and Bank Gospodarstwa Krajowego (BGK), enables JDR to deliver new contracts and expand its global operations in the renewable energy sector.

The funding strengthens JDR's capacity to supply high-voltage subsea and land cables for offshore wind projects, contributing to the UK's leadership in renewable energy and net-zero goals. Recent major contracts in Europe and the US have bolstered JDR's market presence, positioning the company to meet growing global demand for floating wind infrastructure.

Monika Cupiał-Zgryzek, CEO of JDR and TELE-FONIKA Kable, emphasized the importance of UKEF's support, stating, "This investment not only strengthens our market position but also underscores our commitment to innovation, job creation, and the decarbonization of the energy sector."

JDR's state-of-the-art submarine cable production facility, under construction in Northumberland, is expected to create 171 jobs and support the UK supply chain. Once operational, it will be the first UK facility capable of end-to-end manufacturing of high-voltage cables for offshore and onshore wind farms.

This marks the third UKEF-backed financing for JDR, demonstrating the government's commitment to supporting UK businesses at the forefront of the global energy transition.

Source: businessweekly.co.uk