Prysmian Wins Viking Link Project Valued at Close to €700M

MILAN,July 24,2019 -- Prysmian Group,world leader in the energy and telecom cable systems industry,has received a letter of award from National Grid Viking Link Limited and Energinet,for the development of Viking Link,the first submarine cable connection between the UK and Denmark. Worth close to €700 million,the contract includes the turn-key design,manufacture and installation of the world's longest interconnector with the entire 1,250km cable for the submarine route and all of the approximately 135 km of land cables on the UK side,for the 4 out of 5 Lots awarded.

"We are proud to have the opportunity to support two of our most important customers,National Grid and Energinet,in the development of such a strategic infrastructure,which will represent a milestone for the upgrade of the entire EU power transmission grid," statedValerio Battista,CEOPrysmian Group.

The High Voltage Direct Current (HVDC) interconnectorwill operate at ± 525 kV DC and will allow up to 1,400MW of power to be transferred between the two countries passing through UK,Dutch,German and Danish waters,usingsingle-core,mass-impregnated paper-insulatedcables. The HVDC cable system will connect the converter station located at Bicker Fen in Lincolnshire,UK,tothe converter station located at Revsing in southern Jutland,Denmark,with the aim of increasing access to renewable and sustainable energy sources to more than 1.4 million households,reducing the cost of electricity in the UK and providing additional system reliability.

"This project further confirms our undisputed market and technology leadership.Our commitment is to ensure all the resources needed to support our customers in the transition to a more sustainable and smarter energy scenario," stated Hakan Ozmen,EVP Projects,Prysmian Group.

All cables will be manufactured at Group's centreof excellence in Arco Felice (Italy). Theoffshore cableoperationswill be performed usingPrysmian's new cutting-edge installation vessel,which willbe the most capable in the market. With an investment in excess of €170 million,this strategic asset will reinforce Prysmian's approach as a one-stop-shop solution provider,able to offer enhanced project flexibilitythanks to its advanced features. Commissioning of the project is scheduled fortheend of 2023.

Prysmian Group

Prysmian Group is world leader in the energy and telecom cable systems industry. With almost 140 years of experience,sales exceeding €11 billion,about 29,000 employees in over 50 countries and 112 plants,the Group is strongly positioned in high-tech markets and offers the widest possible range of products,services,technologies and know-how. It operates in the businesses of underground and submarine cables and systems for power transmission and distribution,of special cables for applications in many different industries and of medium and low voltage cables for the construction and infrastructure sectors. For the telecommunications industry,the Group manufactures cables and accessories for voice,video and data transmission,offering a comprehensive range of optical fibres,optical and copper cables and connectivity systems. Prysmian is a public company,listed on the Italian Stock Exchange in the FTSE MIB index.

Prysmian Group