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PRYSMIAN GROUP | DIRECTORS’ REPORT
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SIGNIFICANT EVENTS DURING THE YEAR
NEW INDUSTRIAL PROJECTS AND INITIATIVES
During 2015, the Prysmian Group entered into numerous contracts, many of which in the
Energy Projects
operating segment.
In the
submarine interconnections
business, the Group concluded agreements for the construction of
cable systems for major new projects in different parts of the world.
On 3 February, Prysmian signed a Memorandum of Understanding with Transelectrica, a Romanian
electricity transmission system operator, Unicredit Bank and the law firm Tonucci & Partners, to carry out
studies and analyses on the potential development of a
submarine link between Romania and Turkey
.
The memorandum's aim is to support further development of the region's energy sector, by offering
Romanian power suppliers the opportunity to export their surplus generation to other countries such as
Turkey.
During the year the Group also won new orders in the business of submarine inter-array and export cables
for
wind farms
.
On 11 February, Prysmian was awarded a new contract worth approximately Euro 60 million by Iberdrola
Renovables Offshore Deutschland GmbH - a German subsidiary of Iberdrola, the world-leading developer
and operator of wind farms - to supply and install wind turbine inter-array cables for the Wikinger
offshore
wind farm
, located within the West of Adlergrund cluster in the German Baltic Sea. Under the Wikinger
contract, Prysmian is responsible for the design, manufacture, installation, burial, termination and testing of
81 km of 33 kV submarine cables in different cross-sections to connect the 70 wind turbines and an offshore
substation that form the 350 MW wind farm. Cables will be produced at Prysmian's facility in Drammen,
Norway. Installation work is scheduled to be complete by the end of 2016.
The Group won a number of major contracts in the
underground power transmission
business. On 16
February, Prysmian was awarded two major new orders worth a total of more than Euro 50 million for
projects to expand the power transmission system in Kuwait. More specifically, the contracts refer to the
"MEW 06 Jaber Al Ahmed City" project, awarded directly by MEW (the Kuwait Ministry of Electricity & Water)
and the "Jamal Abdel Al Nasser Street" project, awarded by ROBT (JV), a joint venture of Rizzani de Eccher-
OHL under a wider contract with MPW (the Kuwait Ministry of Public Works) on behalf of MEW as end-user.
The "MEW 06 Jaber Al Ahmed City" project is part of the plan to expand Kuwait's power transmission
capability with a view to strengthening its main transmission networks and securing power supplies for
industrial and residential users throughout the country. The "Jamal Abdel Al Nasser Street" project is part of
the plan to upgrade and transform one of the main traffic arteries running through the middle of Kuwait City
into an expressway, a process that will involve diverting an underground electricity line. The contracts involve