July 19th, 2024 by WCBC Radio
Governor Wes Moore today congratulated Belgian-based company Cenergy Holdings on its plans to establish a cable manufacturing facility in Maryland. Its U.S. subsidiary, Hellenic Cables Americas, has officially acquired a 38 acre property in Wagner’s Point along the Patapsco River in Baltimore City, where it will support hundreds of direct and indirect jobs.
“Maryland is proud to partner with Cenergy Holdings and Hellenic Cables to build a cleaner, greener, and more equitable future for all. By working together, we will create new jobs, make Maryland more competitive, and provide fresh pathways to work, wages, and wealth for more Baltimoreans,” said Gov. Moore. “Climate justice is economic justice. We don’t have to choose between a green economy and a growing economy—we can, and we will, choose both.”
Cenergy Holdings owns and operates leading industrial companies, focusing on the growing global demand of energy transfer, renewables, and data transmission. The company’s portfolio includes Hellenic Cables, which is positioned at the forefront of its high growth sector. Hellenic Cables is one of the largest cable producers in Europe, manufacturing power and telecom cables, as well as submarine cables for industries including offshore wind and utilities.
Earlier this spring, the company announced that Hellenic Cables received a federal Qualifying Advanced Energy Project tax credit to support its Baltimore manufacturing facility. The products are anticipated to support the upgrade of transmission and distribution power cables as well as offshore wind efforts.
“We are excited to be part of Maryland’s expanding role in building a robust U.S. based supply chain for power transmission,” said Cenergy Senior Executive Thanasis Molokotos. “The support of the local community, city leaders, and state and federal representatives has been instrumental in reaching this important milestone for Hellenic Cables.”
During the construction period, Hellenic estimates hiring approximately 200 people in trades related positions. An estimated 120 new manufacturing jobs will be created when the factory is fully operational, toward the end of 2026. An estimated 250 indirect jobs will be supported by various services during both the construction and operational periods.
The announcement builds on Maryland’s commitment to renewable energy efforts and environmental sustainability across the state. The Maryland Department of Commerce and the Baltimore Development Corporation continue to assist Hellenic Cables with the ongoing planning surrounding the new manufacturing project.
