Italy's Prysmian wins $2.1 bln contract for UK power transmission link [Reuters]
PRYSMIAN S.P.A. UNSP/ADR (PRYMY)
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Source: Reuters
billion) to supply cables for a high-voltage power transmission link between Scotland and England. The world's largest cablemaker was elected as preferred bidder for the contract last summer. The deal is part of the Eastern Green Link 2 (ELG2) project, a joint venture between British power transmission network owners SSEN Transmission and the National Grid Electricity Transmission (NG.L) , opens new tab "Once completed, the electrical 'superhighway' cable link will unlock the rich renewable energy capacity of Scotland and significantly increase the UK's capacity to deliver clean energy for around two million homes in the UK," the head of Prysmian's transmission business, Hakan Ozmen, said in a statement. The new connection is scheduled to be operational in 2029. Prysmian, which will present its full-year results for 2023 later this week, can now add the EGL2 contract to its order backlog, it said. ($1 = 0.9210 euros) Reporting by Giulio Piovaccari, editing by Gavin Jones
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