Take Prysmian in Piazza Affari and mid-morning it gains more than 4%, the best performance of the Ftse Mib.
The Italian group, active in the energy and telecommunications cable systems sector, has announced that it has been selected by Tso Amprion, one of the leading European transmission system operators, such as preferred bidders for the two BalWin1 and BalWin2 offshore grid connection systems and for the DC34 underground cable project, three contracts that have a total value of 4,5 billion.
Amprion: this agreement will allow us to stay on schedule
These works are part of Germany's general plan to install 70 GW of offshore wind energy by 2045 and which will allow the energy generated in the North Sea to consumers in the western and southern regions of the country. “This agreement represents a significant step forward in delivering these three important projects on schedule,” he stresses Hendrik Neumann, CTO of Amprion, explaining that "this allows us to insure the main components of our offshore projects until 2030".
THEpreferred bidder agreement, underlines a note, "provides for the obligation for the parties to negotiate in good faith the points still to be defined of the projects, with the aim of signing the definitive contracts by 15 January 2024". Prysmian has therefore undertaken to reserve the production and installation capacity requested until the aforementioned date. Prysmian is strongly committed to developing greener and smarter electricity grids, supporting Amprion, one of its key customers, in its important energy transition goals, recalls Hakan Ozmen, Prysmian's EVP Projects BU.
Analysts approve, the title flies
- Equita analysts underlined that “Considering the size of the project, the news is clearly positive”, recalling that “Prysmian generates around 16 billion in sales on an annual basis”. “The news is very positive and not obvious” confirmed by Banca Akros. To support the action also the fact that Goldman Sachs raised the target price from 59 to 61 euros, confirming the buy rating.
At 1030 this morning on Prysmiam title at Piazza Affari, it is priced at 35,98 euros, up 4,17%.
The contracts support Germany's energy transition
In details, BalWin1 and BalWin2 they will transmit up to 2 GW of energy each from the futures offshore wind farms which will be built within the BalWin Cluster in the German section of the North Sea at the grid connection points at Westerkappeln (Lower Saxony) and Wehrendorf (North Rhine-Westphalia), thus favoring the energy transition in the industrial heart of Germany. Instead, DC34 (number 82 of the German Federal Requirements Act), covered by the Rhein-Main-Link, will connect the substation in the Ovelgönne/Rastede/Wiefelstede/Westerstede area (Lower Saxony) to a second substation in Bürstadt (Hessen) for transmit up to 2 GW of energy produced by offshore wind farms in the North Sea to consumers in the Rhine-Main metropolitan area.
