PRESS RELEASE
PRYSMIAN GROUP PARTNERS WITH NATIONAL GRID TO UPGRADE UK'S ELECTRICITY GRID
FRAMEWORK AGREEMENT AWARDED FOR 3 YEARS
Milano, February 6, 2023 - Prysmian Group, world leader in the energy and telecom cable systems industry, confirms its support to the upgrading process of UK's electricity grid and announces it has been awarded, through its subsidiary in the UK, a Medium Voltage cable framework agreement with National Grid Electricity Distribution for a minimum of 3 years.
To access cleaner, greener energy, more expansive and more intelligent grids and infrastructures are required, able at spanning further distances and facilitating two-way energy traffic to and from where the energy is produced and consumed, so to cope with the increased capacity demands of global electrification. Having grid hardening at the core of Prysmian's R&D strategy, the company has developed solutions that support the growing need for grid stability and innovation, including asset monitoring systems and grid enhancement solutions.
With this agreement Prysmian will support UK's electricity grid in becoming capable of distributing more electricity in the future, as a key enabler for the energy transition. Medium voltage cables will be supplied primarily from the Group's manufacturing plant in Wrexham, North Wales, and will assist National Grid to expand and modernize the network supporting the increase in demand.
"The development of more reliable and smarter grid infrastructures for power transmission and distribution is key for the integration of renewables", states Juan Mogollon, Energy Division Executive Vice President at Prysmian Group. "The ambition of Prysmian is to act as an enabler for accelerating the energy transition by supporting the development of greener and smarter power grids with innovative cable technologies, ensuring higher performances, reliability and sustainability."
"This ambition is translated in our everyday business activities by providing clean energy where it is needed, and in our innovation to help our customers in solving their challenges and supporting the grid hardening process.", added Marcello Del Brenna, CEO Prysmian UK.
Prysmian were considered the strongest supplier for the manufacture and logistics management of medium voltage cables for the new framework agreement with National Grid. The two Companies have built a strategic relationship over many years across all voltage levels for supply into the UK market, including the North Sea Link, the world's longest submarine electricity interconnector, enabling the sharing of renewable energy between the UK and Norway; the Viking Link, the first submarine cable connection between the UK and Denmark; IFA2, the turn-key design, manufacture and installation of a submarine and land power cable link to connect Tourbe in France to Chilling in Hampshire, UK; and WesteHVDC Link, a new submarine High Voltage Direct Current (HVDC) interconnector between Scotland and England.
Prysmian Group is world leader in the energy and telecom cable systems industry. With almost 150 years of experience, sales of over €12 billion, about 29,000 employees in over 50 countries and 108 plants, the Group is strongly positioned in high-tech markets and offers the widest possible range of products, services, technologies and know-how. It operates in the businesses of underground and submarine cables and systems for power transmission and distribution, of special cables for applications in many different industries and of medium and low voltage cables for the construction and infrastructure sectors. For the telecommunications industry, the Group manufactures cables and accessories for voice, video and data transmission, offering a comprehensive range of optical fibres, optical and copper cables and connectivity systems. Prysmian is a public company, listed on the Italian Stock Exchange in the FTSE MIB index.
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