By realising the world's first 525 kV XLPE HVDC offshore cable systems to connect 2 GW projects, we jointly reconfirm our front runner position in offshore grid development and our commitment to deliver on the joint ambition to develop the North Sea into the green power plant of Europe. Production of the power cables for the three projects are scheduled to start between 2024-27 with expected commissioning in 2028-30. The order award does not change the 2023 financial outlook for NKT.