(Alliance News) - Prysmian Group Spa announced Thursday that it has been awarded a new contract worth about EUR630 million awarded by Terna Rete Italia Spa, a wholly owned subsidiary of Terna Spa, the Italian operator of the high- and extra-high-voltage electricity transmission grid.

The Adriatic Link project "includes the design, supply, installation and testing of a high-voltage direct current submarine interconnection, which will contribute to the decarbonization of the Italian energy system, thereby strengthening the country's role as a hub

Mediterranean energy hub," reads the company note.

The cable line consisting of two high-voltage poles will have a transmission capacity of up to 1,000 MW, which will increase the exchange of energy between the Central-South and Central-North areas of Italy, enhancing the safety, efficiency and resilience of the entire national electricity transmission grid.

The route, which will cross about 250 kilometers in total, includes two submarine cables about 210 kilometers long in the Adriatic Sea.

Prysmian will also provide two underground cables of about 40 kilometers to connect each landfall point to the relevant converter station.

All the submarine cables with XLPE insulation will be manufactured at the Group's center of excellence in Arco Felice while the underground cables with P-laser insulation will be made at the Gron center of excellence in France.

The group has made major investments in Arco Felice to strengthen its production capacity, turning the plant into a technological hub for submarine power transmission cables in Europe.

The installation will be carried out by the Leonardo da Vinci and the Monna Lisa, Prysmian Group's record-breaking cable-laying vessels. The cable-laying activities will be completed by the first half of 2028.

"This project confirms the mutual trust and long-standing relationship between Terna and Prysmian Group, being the latest in a series of projects we are working on with the Italian TSO," said H. Ozmen, EVP Projects BU.

"We are proud to have the opportunity to play our role in the development of such a strategic infrastructure for our country by providing the best Made in Italy submarine cable technology. The project will contribute to the strengthening of power transmission in the center of continental Italy and further support Italy's role as an electricity hub for Europe and the entire Mediterranean basin, in line with the objectives set by the Integrated National Energy and Climate Plan."

With this major project, the company points out in a note, the order intake of Prysmian Group's Projects BU to date exceeds EUR10 billion, including projects for which the group has been selected as preferred bidder. The group has already secured several submarine grid connection projects in the Mediterranean region such as the Tyrrhenian Link, the submarine cable connection between Capri and Sorrento, and the one between the island of Elba and Piombino.

Prysmian is down 0.3 percent at EUR37.40 per share.

By Chiara Bruschi, Alliance News reporter

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