Prysmian, a leading cable and energy solutions provider, has successfully secured a payment of €180 million to guarantee the capacity availability for a significant cable connection project in the United Kingdom.
The payment pertains to Eastern Green Link 2 Limited, a joint venture between SSEN Transmission and National Grid Electricity Transmission. This venture aims to reinforce the electricity grid infrastructure between Scotland and England, enabling the transmission of increased renewable energy from the north to demand centers in the south. The reinforcement supports the ambitious goal of achieving 50GW of offshore wind generation by 2030 and establishing a net-zero economy by 2050.
Having been chosen as the exclusive preferred bidder in May 2023, Prysmian has made a commitment to ensuring the continued capacity availability for the construction of the Eastern Green Link 2 (EGL2) cable connection. The €180 million payment will secure Prysmian's involvement during the remaining negotiations, ensuring the timely conclusion of the contract.
The Eastern Green Link 2 project entails the development of a high voltage direct current (HVDC) submarine and underground link, utilizing approximately 1,000 kilometers of wire along the planned 500-kilometer route. This connection will span between converter stations located at Peterhead in north-east Scotland and Drax in northern England.
With an impressive power transmission capacity of 2GW, the Eastern Green Link 2 is expected to be among the first cable systems in the UK to incorporate 525 kV technology with extruded XLPE insulation.
See also: Prysmian Group Chosen as Preferred Bidder for UK's 2GW Eastern Green Link 1 (EGL1) Connection
Prysmian Group's Executive Vice President of Projects BU, Hakan Ozmen, expressed the company's dedication to leveraging its resources and global expertise in support of their customers and the development of vital cable connections for the energy transition. He stated, “This approach demonstrates Prysmian's commitment to making all our resources and global expertise available to our customers, supporting the development of crucial cable connections for the energy transition.”
The secured payment of €180 million marks an important milestone in the progress of the Eastern Green Link 2 project. This significant investment not only ensures the availability of necessary resources but also signifies the commitment of Prysmian and its partners towards advancing the UK's renewable energy objectives. As the project moves forward, it promises to play a pivotal role in facilitating the transmission of clean energy and driving the nation closer to its sustainable future.
