Prysmian gets EUR-350m job on IFA2 project

Italian cable producer Prysmian SpA (BIT:PRY) will manufacture and install the submarine and land power cable link for the 1,000-MW IFA2 interconnection between France and the UK.

Prysmian has received a contract worth some EUR 350 million (USD 370m) for the job from project developer IFA2 SAS, which is a joint venture between National Grid (LON:NG) and French peer Reseau de Transport d'Electricite (RTE).

The Italian group said it will manufacture the subsea cables at its factory in Pikkala, Finland, whilst the land cables will be produced at the facility in Gron, France. It will use the cable laying vessels Cable Enterprise and Ulisse.

Also last week it was announced that Swiss power and automation group ABB (VTX:ABBN) will supply two high-voltage direct current HVDC Light converter stations for the project under a EUR-270-million deal.

The 240-km (149 miles) IFA2 interconnector will run from Chilling, Hampshire, on the southern coast of England to Tourbe in northern France. The system is expected to be commissioned in 2020. It will help both countries to meet domestic and international renewable energy and climate change targets.

(EUR 1.0 = USD 1.058)

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