In Piazza Affari, good performance for Prysmian which is currently up by 0.64%, thus reaching 32.4 euros per share.
The group, world leader in the energy and telecommunications cable systems sector, announced today that it had been awarded a contract by the Greek transmission system operator (TSO) IPTO – Independent Power Transmission Operator – to connect the islands of Milos, Folegandros and Santorini.
In detail, the contract has a value of approximately €150 million and will be finalized by 2022, following the usual approvals by the authorities involved; while the delivery and testing of the cables are scheduled for 2025.
This connection aims to complete the complex project to integrate the electricity grid of the islands (Serifos, Milos, Folegandros and Santorini) with that of mainland Greece, with positive effects both for the islands and for the national economy as a whole.
In particular, Prysmian will be responsible for the design, supply, installation and commissioning of a turnkey 150 kV three-core cable system in high voltage alternating current (HVAC – High Voltage Alternating Current) with XLPE insulation, which will cover a submarine section of over 100 km and a land section of about 10 km.
The multi-phase Cyclades interconnection project will allow the islands to replace local power plants, which are struggling to cope with peak demand, with energy generated by more efficient and less polluting power plants operating in the Greek hinterland.