PRYSMIAN GROUP SUPPORTS TERNA IN DEVELOPING ITALY’S POWER TRANSMISSION GRID

The Group secures two important power transmission cable projects to upgrade the Italian power grid also in view of the Cortina Olympics and in Southern Italy

Milan, 19 December 2019 – Prysmian Group, world leader in the energy and telecom cable systems industry, has signed with Terna, through its subsidiary Terna Rete Italia S.p.A., following the public tender, two important power cable systems agreements.

Under the first contract, worth of €50 million (inclusive of the safety costs), Prysmian Group will be responsible for the development of an HVAC 150 kV power cable link between the Zuel and Somprade electrical substations in the province of Belluno. Installation is scheduled to be complete by 2020 in view of the 2021 Alpine World Ski Championships in Cortina.

The second award is for the development of an HVAC 150 kV cable system, aimed to improve the performance and increase the reliability of the power transmission system in Southern Italy. The frame agreement is worth of €26 million, with an option for an additional €26 million.

“We are proud to support Terna with important projects to upgrade Italy’s power grid, providing our full range of products, technologies and expertise developed through years of experience at international level,” stated Carlo Scarlata, CCO Italy, Prysmian Group.

The cables for both projects will be manufactured at the plants in Pignataro Maggiore (Italy) and Gron (France).

Prysmian Group

Prysmian Group is world leader in the energy and telecom cable systems industry. With almost 140 years of experience, sales exceeding €11 billion, about 29,000 employees in over 50 countries and 112 plants, the Group is strongly positioned in high-tech markets and offers the widest possible range of products, services, technologies and know-how. It operates in the businesses of underground and submarine cables and systems for power transmission and distribution, of special cables for applications in many different industries and of medium and low voltage cables for the construction and infrastructure sectors. For the telecommunications industry, the Group manufactures cables and accessories for voice, video and data transmission, offering a comprehensive range of optical fibres, optical and copper cables and connectivity systems. Prysmian is a public company, listed on the Italian Stock Exchange in the FTSE MIB index.