Prysmian Secures Approx. Euros200 Million Offshore Wind Energy Project in the US

PR78782

MILAN, May 16, 2019 /PRNewswire=KYODO JBN/ --

Prysmian confirms commitment to the offshore wind cable sector in North America

Prysmian Group, world leader in the energy and telecom cable systems industry,

has been awarded a contract worth approximately Euros200 million by Vineyard

Wind, LLC, a US offshore wind development company 50% owned by funds of

Copenhagen Infrastructure Partners and 50% by Avangrid Renewables (part of the

Iberdrola Group), to provide a submarine power cable system which will deliver

clean energy to the mainland power grid in the US.

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With the notice to proceed expected at the end of 2019, Prysmian Group will be

responsible for the design, manufacture, installation and commissioning of an

HVAC (High Voltage Alternating Current) cable system composed of two 220 kV

three-core cables utilising extruded XLPE insulation. The project requires a

total of 134 km of power cables. The submarine cables will be produced in

Prysmian Group's centres of excellence for the production of submarine cables

in Pikkala (Finland) and Arco Felice (Italy). Installation operations will be

performed by Prysmian Group's state-of-the-art cable laying vessels Cable

Enterprise and Ulisse. Delivery and commissioning of the project are scheduled

for 2021.

Prysmian will also provide PRY-CAM permanent monitoring solutions consisting of

long range Distributed Temperature Sensing (DTS) and state-of-the-art Real Time

Thermal Rating (RTTR) systems collecting and analysing data by ways of an

artificial intelligence interface, which generates automated alarm signals if a

critical situation is identified. PRY-CAM is the Group's breakthrough

technology that allows on-line, accurate and reliable in-depth information to

helps electric assets owners to increase uptime, asset longevity and safety,

while reducing maintenance costs and risks.

"This contract reinforces Prysmian Group's leading position in the submarine

cable market and underpins both our continued role and our commitment to the

North American offshore wind sector. Prysmian offers extensive technical

expertise, levering on its wide knowledge and historical experience in this

industry, where we ensure our close and local support to our customers

throughout the complete project life cycle," stated Hakan Ozmen, EVP Projects,

Prysmian Group. "The US offshore wind market is now demonstrating a high level

of motivation with a promising growth forecast and we are excited to contribute

to realising this opportunity in the US market," concluded Ozmen.

With the integration of General Cable, Prysmian Group confirms its wider

commitment and presence to the North American power and telecommunication cable

market.

Prysmian Group

Prysmian Group is world leader in the energy and telecom cable systems

industry. With almost 140 years of experience, sales exceeding Euros11 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.

Source: Prysmain S.p.A