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Prysmian, New Contract Worth Approximately € 95 Million For The Connection Of The Cyclades Islands To The Mainland, In Greece

The Submarine Cable System Will Enable Integration Of The Islands Into The Greek Power Transmission System

Milan, 8 Aug 2014 - Prysmian Group, world leader in the energy and telecom cable systems industry, has been awarded a new contract worth approximately 95 million euro by IPTO (Independent Power Transmission Operator), the Transmission System Operator of the Greek electricity system, for the interconnection between the island of Syros (Cyclades) and the mainland power transmission System in Lavrion, Greece.

The project involves the design, supply and installation of a turn-key High Voltage Alternating Current (HVAC) cable system designed to transmit a power of 200 MVA and consisting of 150 kV extruded cables and associated fibre optic cable system along a total route of more than 110 km (108 km submarine and 2 km land) for the interconnection between the two landfalls that will enable integration of Syros into the Greek network system and future expansion to the other Cyclades Islands (Paros, Mykonos, Tinos).

The submarine cables for the Lavrion-Syros link will be manufactured in the Arco Felice plant (Naples), the Group's centre of technological and manufacturing excellence. Production of both submarine and land cables will be during 2015. Cable installation and protection will be completed within 22 months in 2016.

"This new project confirms Prysmian's leadership in the Mediterranean region and in 'deep water' cable installation projects" states Massimo Battaini, Prysmian Powerlink CEO. "The Cyclades project further highlights Prysmian's strategic role in supporting the realization of the important development plans in the field of power grid interconnections", he adds.

Prysmian has a long-standing track record in the development of submarine interconnection milestone projects in the entire Mediterranean region, such as Italy-Greece, Sardinia-Italian Peninsula (SA.PE.I.), two interconnections between Spain and Morocco, two projects in the Balearic Islands (Spanish Mainland to Majorca and Ibiza to Majorca) and the Dardanelles in Turkey. The Group is also a founding member of the industrial partnership Medgrid, launched to study the feasibility of a high-voltage direct current interconnection project to transmit electricity from solar or wind power plants to load centres on either rim of the Mediterranean.

These achievements again demonstrate Prysmian's know-how and technologies validity in the development of state-of-the art cables for power transmission and the commitment to support smarter and greener power grids worldwide. In Europe, Prysmian is playing a key role in the development of power connections for offshore wind farms, with projects either completed or on-going in Denmark, Holland, UK and in Germany. With an extended worldwide industrial footprint of 17 plants dedicated to High Voltage cables and 3 plants mainly dedicated to submarine cables, the Group has timely invested to meet the ever growing challenges of the industry.

Prysmian Group
Prysmian Group is world leader in the energy and telecom cables and systems industry. With more than 130 years of experience, sales of €7 billion in 2013, about 19,000 employees across 50 countries and 91 plants, the Group is strongly positioned in high-tech markets and offers the widest range of products, services, technologies and know-how. In the Energy sector, Prysmian Group operates in the business of underground and submarine power transmission cables and systems, special cables for applications in many different industrial sectors and medium and low voltage cables for the construction and infrastructure industry. In the Telecom sector, the Group manufactures cables and accessories for the voice, video and data transmission industry, offering a complete range of optical fibres, optical and copper cables and connectivity systems. Prysmian is a public company, listed on the Milan Stock Exchange in the FTSE MIB index.

Media Relations
Lorenzo Caruso
Corporate and Business Communications Director
Ph. 0039 02 6449.1
[email protected]

Investor Relations
Luca Caserta
Investor Relations Director
Ph. 0039 02 6449.1
[email protected]

This press release is available on the company website at http://www.prysmiangroup.com/ and in the mechanism for the central storage of regulated information known as "1Info" at http://www.1info.it/.

Source: RealWire

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