Latest News

Italy's Prysmian protects 600 mln euro contract for power interconnector in Australia

Italy's Prysmian stated on Friday an agreement it secured in Australia for a new high voltage power interconnector deserved around 600 million euros ($ 650 million).

The agreement with Marinus Link Pty, which is developing the interconnector in between the state of Victoria and the island of Tasmania, settles a preliminary arrangement the 2 business announced in 2023.

WHY IT is very important

The new interconnector will help Australia satisfy its emissions reduction targets by conserving up to 70 million tonnes of CO2 equivalent by 2050, Prysmian said.

BY THE NUMBERS

The infrastructure, with a capacity of 750 megawatts for the very first phase, is focused on helping with the circulations of electricity, including from sustainable sources, and telecommunications between the 2 states, with 345 kilometres of cable television, both undersea and underground.

Conclusion is set for 2030.

As part of the contract Prysmian will create, test, supply and install a high-voltage (HVDC) cable system, covering both submarine and land sections, the company stated.

CONTEXT

The annoucement comes after previously this week Prysmian, the world's largest cable television maker, went into special talks with Spanish grid operator Red Electrica for an energy transmission job to be worth over 500 million euros to connect the island of Mallorca with the mainland.

(source: Reuters)