(Allianz News) – Brysmian Group Spa announced on Wednesday that it has reached a major milestone with UK electricity transmission system owners SP Transmission plc and National Grid Electricity Transmission plc.
Following Brysmian’s selection in May as the exclusive preferred bidder, the contract provides an initial payment of €85m and guarantees the continued availability of Brysmian Group’s ability to build the East Green Link 1 cable connection for the remainder of the negotiation period. In completing the contract at the right time during the year.
Eastern Green Link 1 plans a high-voltage direct current submarine and land cable link that will connect Dorness in Scotland to Hawthorne Pit in the north of England, using about 400 km of cable over a distance of about 200 km.
“With a power-carrying capacity of 2GW, the link is expected to be the first cable system in the UK to use 525kV high-voltage direct current technology with extruded XLPE insulation. 400kV high-voltage alternating current, which would require approximately 30km of cable. 5km of track, a transformer at the Scottish end of the route and will also connect network stations,” the company explained in a note.
“EGL1 is part of a series of planned power grid upgrades aimed at increasing the capacity of the UK’s existing transmission network and encouraging increased flows of renewable energy to demand centers from the north to the south of the country. The link will therefore generate 50 GW of offshore wind power by 2030 and support the ambition to achieve a net zero economy by 2050. .
On Tuesday, Prysmian closed up 0.2% at 38.08 euros per share in the green.
By journalist Claudia Cavaliere at Alliance News
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