Prysmian secures contract for submarine power cable link

The Group will Invest in submarine cable production capacity upgrade and the acquisition of a new barge to widen range of installation capabilities

Prysmian Group, world leader in the energy and telecom cable systems industry, has been awarded a new contract worth around €250 million for an HVDC (High Voltage Direct Current) submarine interconnector that will link Denmark and the Netherlands, by TenneT TSO B.V. and SOV, the operators of the Dutch and of the Danish power transmission grids, respectively.

The COBRAcable interconnector will contribute to the realisation of a sustainable international energy landscape, a key aim of the European Union, who is to support the project through the EEPR (European Energy Programme for Recovery). The connection will be constructed using HVDC technology, which minimizes transmission losses over the long distances involved.

All cables will be produced in Arco Felice (near Naples, Italy) and Pikkala (near Helsinki, Finland), the Group´s centres of technological and manufacturing excellence for submarine cables. Prysmian is currently building on recent investments made in its Pikkala factory with a further approximately € 10 million upgrade to existing production lines, to significantly increase its manufacturing capacity of extruded HV submarine cables.

The marine cable laying activities, which will be performed by the Group´s own cable-laying vessels, the Cable Enterprise and the Giulio Verne, will also see the use of their newly acquired barge. Delivery of the cable system is scheduled by the 3rd Quarter of 2018.

Prysmian Group is world leader in the energy and telecom cable systems industry. With more than 130 years of experience, sales of nearly €7 billion in 2014, some 19,000 employees across 50 countries and 89 plants, the Group is strongly positioned in high-tech markets and offers the widest possible range of products, services, technologies and know-how.