PRYSMIAN WINS FRAMEWORK AGREEMENT WITH TERNA TO STRENGTHEN THE NATIONAL ELECTRICITY TRANSMISSION GRID

Prysmian has been awarded a framework agreement with Terna to support the strengthening of the Italian power grid.

The framework agreement, which lasts three years, with an additional year which may be optioned by Terna, has a potential total value of €382.5 million.

As part of the agreement, Prysmian will supply Terna with HVAC cables, as well as maintenance of high voltage cables.

Terna is committed to acquire a minimum quantity of at least 50km of high voltage cable each year, which may rise considerably in line with their requirements, as part of the agreement.

The award underlines Prysmian’s central role in supporting the development of electricity transmission to meet increasing demand, while enabling the energy transition.

The award is aligned with Terna’s strategy for the development and modernization of the national transmission grid, aimed at supporting the objectives outlined in the European Green Deal and the Integrated National Energy and Climate Plan.

Prysmian will make use of its extended facilities in Pignataro Maggiore, Campania to manufacture these cables. The Pignataro Maggiore site has recently received over €20 million in investment to support an increase in capacity, including in high voltage cables.

Marcello Del Brenna, CEO Prysmian Europe, said: “We will work closely with Terna to support enhancements in reliability and resilience of the Italian power grid and together make a significant impact to progress the energy transition, while supporting the overall Italian economy, as we manufacture these cables at our Pignataro Maggiore factory in Caserta.”

Fabio Zucca, Italy Country Manager, said: “Our long-standing positive relationship with Terna comes from a spirit of shared goals, collaboration, and commitment to make a real difference for the millions of end users across Italy. This framework agreement is an important commitment, from both Prysmian and Terna at a critical moment in the energy transition, and we are proud to have been entrusted with this significant award.”