Prysmian Wins $1 Billion Contract for Offshore Wind-Power Cables
Prysmian SpA (PRY), the Milan-based cable manufacturer, agreed to produce and install about 730 million euros ($1 billion million) of undersea transmission lines to connect offshore wind farms in the Baltic Sea.
The contract with 50Hertz Transmission GmbH’s offshore unit for its West of Adlergrund projects includes about 250 million euros in grid-connection options, Prysmian said today in a statement on its website. Terms weren’t disclosed.
The cable will run about 93 kilometers (58 miles) to a substation in northeast Germany. Installation is expected to begin next year.
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