Prysmian has been awarded a contract worth around 200 million euros for the cabling of an offshore wind farm in the United States. The client is Vineyard Wind LLC, an American company controlled equally by the Copenhagen Infrastructure funds and by Avangrid Renewables (in turn part of the Iberdrola group).
In detail, the contract involves the development of a submarine cable system that will bring renewable energy to the mainland electricity grid. Works should start by the end of 2019 and Prysmian will have to design, produce, install and test a high voltage alternating current (HVAC) cable system consisting of two 220 kV three-core cables with extruded XLPE insulation. The system will cover a route of 134 km of cables.
The submarine cables will be produced in the Prysmian centers in Pikkala (Finland) and Arco Felice (Italy), the company said. The installation operations will be carried out with the cable-laying ships of the Cable Enterprise group and Ulisse. Delivery and testing of the project is scheduled for 2021.
Prysmian will also supply a PRY-CAM system for permanent monitoring of the electrical connection, made up of DTS (Distributed Temperature Sensing) and RTTR (Real Time Thermal Rating) solutions and data analysis, carried out with an artificial intelligence algorithm which allows for the identification of any system malfunctions through the generation of automatic alarms.
"In the United States, offshore wind represents a new market with strong growth forecasts - commented Hakan Ozmen, EVP Projects of Prysmian - We are proud to contribute to the realization of this project in the country".
On Thursday, mid-morning, Prysmian's stock traded slightly below parity, at 17,08 euros, substantially in line with the performance of the Ftse Mib, which dropped 0,14% in the same minutes.
