Prysmian announces orders worth 5 billion and the stock celebrates on the stock market

Prysmian finalised contracts for three orders with an aggregate value of approximately EUR 5 billion with Amprion, one of Europe's leading transmission system operators, for two offshore grid connection systems and the Dc34 onshore cable project.

This is the "largest package of contracts both in terms of value and in terms of cable kilometres ever awarded to Prysmian," the company explains. It includes in aggregate about 4,400 kilometres of high-voltage DC cables, of which about 3,400 kilometres are land cables and 1,000 kilometres are submarine cables.

Dedicated metal return cables are also included. The three contracts with Amprion represent a "milestone for Prysmian, as they once again underline the trusting cooperation between the two companies. We are pleased to actively contribute as a reliable partner to the energy transition,' says Prysmian's Hakan Ozmen.

"The necessary cable resources for three important energy transition projects have been secured. Contracts like the ones signed with Prysmian are essential to achieve our offshore expansion goals. For us, they represent a significant step towards project success,' emphasises Amprion's Hendrik Neumann. These three projects are part of Germany's overall plan to install 70 Gw of offshore wind power by 2045 and will enable the energy generated in the North Sea to be transmitted to consumers in the country's western and southern regions.

And the news of the three contracts sparked enthusiasm on the stock market, with Prysmian's share rising over 4% on the Italian Stock Exchange.