Italy's Prysmian says Western Link submarine power cable currently unavailable [Reuters]
PRYSMIAN S.P.A. UNSP/ADR (PRYMY)
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Source: Reuters
Italy's Prysmian says Western Link submarine power cable currently unavailable MILAN (Reuters) - The Western Link high-voltage submarine power cable between Scotland and England is currently unavailable after tripping on Friday, Italian cablemaker Prysmian, which built the link, said on Sunday. The failure raises fresh doubts over the infrastructure, which has suffered from repeated technical difficulties in recent years, hitting Prysmian’s 2018 financial results and weighing on the shares of the world’s largest cablemaker. Prysmian said in a statement it had been informed that the failure occurred on Friday. It said investigations to assess the cause were continuing. “As soon as there are relevant updates Prysmian will inform the market,” it added. Prysmian built the Western Link project in partnership with Germany’s Siemens, which installed converter stations. The project was handed over to Britain’s National Grid and Scottish Power in November last year.
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