The Prysmian Group announced that it has received a binding offer from Carlisle Companies Incorporated for the acquisition of the business of Draka Fileca SAS (Fileca) in a transaction valued at €73 million.
A press release said that Fileca, which was acquired by Prysmian in 2011 as part of the Draka acquisition, is a global supplier of highly engineered cables for the aerospace and space end markets. Based in France, it generates revenues of €44 million and reported adjusted EBITDA of approximately €5 million in 2018. Fileca, provided first generations of aerospace cables to the Concorde program.
The transaction is expected to be completed during the first quarter of 2020.
Italy’s Prysmian Group reports that it has been awarded a major grid connection project, DolWin5, worth some €140 million, from Dutch-German grid operator TenneT.
A press release said that the TenneT project will connect multiple offshore wind farms to the German grid. It calls for “the supply, installation and commissioning of a High Voltage Direct Current (HVDC) 320 kV XLPE-insulated submarine and land power cable connection, with a transmission capacity of 900 MW, as well as the associated fibre optic cable system, comprising a land route of 30 km and a subsea route of 100 km.” The turnkey connections will link the offshore converter platform DolWin epsilon, located some 100 km offshore in the German North Sea, to the mainland Emden/Ost converter station, and help transmit the generated renewable energy into the German grid.
The cables will be manufactured at Prysmian Group’s plants in Pikkala, Finland, submarine, and Gron, France, land, the release said. Offshore installation activities will be performed by two Prysmian cable-laying vessels: the Cable Enterprise, for deep water installation, and the Ulisse, for shallow water activities. Completion of the project is scheduled for the middle of 2024.
“The Dolwin5 project continues our valued long relationship with the major TSO TenneT and demonstrates our ability to provide tailor-made submarine cable solutions for challenging projects, providing the offshore infrastructure needed to support the growth of clean energy in Northern Europe,” said Hakan Ozmen, EVP Projects, Prysmian Group.
The release said that the project comes “at a very important time for Prysmian,” which recently won a €200 million U.S. offshore project from Vineyard Wind, LLC.
The Prysmian Group has won a contract from utility SP Power Assets Limited, worth an estimated €33 million, for the design, supply, installation and commissioning of two high-voltage power cable systems to connect the Rangoon and Paya Lebar substations in Singapore.
A press release said that the power transmission system will require 44 km of HVAC (High Voltage Alternating Current) underground 2000 sq-mm 230 kV cables with a seamless corrugated aluminum sheath and related high-voltage accessories. Cable and accessories will be supplied by the Chinese subsidiary through its recently opened state-of-the-art factory which offers the APAC utilities market a wide range of high and extra high voltage cable technologies, as well as medium voltage solutions and fire protection cables.
The EPCI type contract will highlight the Group ability to provide a comprehensive package of services and to deliver a complete cable system solution including installation in a 50-m deep tunnel in water-cooled troughs and supply of auxiliary cables (telephone and LV cables), fiber optic cable and DTS (Distributed Temperature Sensor) for distributed temperature sensing of power cables. Delivery and commissioning of this project is scheduled for 2020.
“This is a strategic project for Prysmian, marking the Group’s involvement for the first time in many years in a project of this size in the APAC region, which also involves the supply of locally manufactured products and solutions. We have secured this EHV project in Singapore thanks to our extensive knowledge, our high-performance cable solutions and our new cable factory in China, reflecting SP Power Assets Limited’s confidence in Prysmian capabilities in the ASEAN region,” said Hakan Ozmen, EVP Projects, Prysmian Group.
“We are proud to be contributing to this important project. This collaboration demonstrates once more the extremely high quality and state-of-the-art technology of our products and underground cable system solutions,” said Federico Corbellini, ASEAN high-voltage business director.
Prysmian reports that the company has won three turnkey projects to supply and install submarine inter-array cable systems that will represent France’s first large-scale offshore wind farms, and collectively require 345 km of cable.
A press release said that two of the projects, from Eolien Maritime France (EMF), are for two offshore wind farms—Fécamp and Courseulles-sur-Mer, owned by EMF and wpd offshore GmbH—located off the North France coast. Those contracts are worth more than €200 million, and are expected to be completed next year. A third project, for the Saint Nazaire wind farm—also owned by Eolien Maritime France—is worth more than €20 million, and is being secured by a consortium between Prysmian and Louis Dreyfus Travocean.
“These new important awards confirm that we have all the capabilities to achieve our ambitious growth targets in the offshore wind farm market,” said Hakan Ozmen, an executive vice president of the Prysmian Group. “Our investments have strengthened both our production capacity and installation capabilities and the market is showing its confidence in us.”
The three wind farms will require 33 kV three–core submarine cable systems with XLPE insulation. The Fécamp project will connect 83 wind turbine generators (WTGs) with a total capacity of 498 MW, while Courseulles-sur-Mer will connect 75 WTGs with a total capacity of 450 MW. Cable, accessories and terminating services will also be provided by Prysmian for the 80 WTGs for the 480-MW capacity of Saint Nazaire.
The projects, the release said, will represent France’s first large-scale offshore wind farms. Prysmian will rely on the resources of General Cable’s NSW subsidiary. Cable cores will be manufactured at the Group’s center of excellence in Montereau-fault-yonne, France, and then assembled and finished in Nordenham, Germany, providing the French market with Prysmian’s locally manufactured cable systems.
For Fécamp and Courseulles-sur-Mer, Prysmian will be the turnkey provider, supplying and installing all interarray cables between the WTGs. Delivery and commissioning of the cables are expected during the period 2020-2022, depending on the individual project timelines.
“These awards represent an important milestone for Prysmian as they are related to the first major projects in this market and they show that our ambition of becoming a one-stop service provider covering the entire supply chain is credible and sustainable,” said Alessandro Panico, sales team manager, offshore wind, Prysmian Group. To date, the Group notes that it has secured offshore wind projects worth more than €650M in 2017-2018.
Prysmian reports that it has entered into an agreement with Chinese contractor Talesun to supply some 3,600 km of cables for a new major solar park in Cauchari, Argentina.
A press release said that Prysmian will provide a range of instrumentation and control, low- and medium-voltage and solar cables from its Chinese plants in Tianjin and Yixing. The deal, to include more than 1,100 medium-voltage accessories and connectors from its Yixing plant, will also require 100 Pry-Cam Grids and one Pry-Cam Portable for monitoring to be supplied by Prysmian Electronics, and supervision services (KOM) for both MV Accessories and Pry-Cam supplied by the team in Argentina, it said.
Cuachari is the first project signed by China and Argentina within the “OBOR – One Belt, One Road” initiative, the release said. It noted that Talesun is acting on behalf of Shanghai Electric, the main contractor for the project, which will see the construction of a 315 MW photovoltaic plant. It is to be located in the Jujuy Province, close to the North-West border with Chile, and at an altitude of 4,100 m, it represents a significant solar resource. The solar park is expected to generate a monthly average of 55,073 MWh, which will be conveyed to the 345 kV line that links the Chilean town of Andes with the town of Cobos in the province of Salta.
“We leveraged the internal synergies within the Group with the close cooperation of the different regions and teams involved to fulfill the complex requirements of the project,” said Prysmian Group China CEO Matteo Bavaresco. “This is a milestone example of global integration and teamwork within Prysmian.”
Prysmian announced that it has won a contract from JG Summit Petrochemicals Group in the Philippines that calls for it to supply 820 km of cable for use in an expansion of the company’s operations.
A press release said that Prysmian will supply a mix of low- and medium-voltage power cable, instrumentation and control cable and telecom cable for plant and petrochemical applications. They will be used for the customer’s OSBL (Outside Battery Limits) Phase 1 Expansion Project, planned as the first expansion phase to the existing JG Summit facilities that will see construction begin this year. The cable will be produced at Prysmian plants in China, with delivery later this year.
JGSPG consists of JG Summit Petrochemical Corporation (JGSPC)—the largest manufacturer of polyolefins in the Philippines and the first and only integrated PE and PP resin manufacturer in the country—and JG Summit Olefins Corporation (JGSOC), which operates the only naphtha cracker plant in the Philippines. The JGSPG complex is 120 km south of Metro Manila in Batangas City, where its 250-hectare complex houses the naphtha cracker plant and the polymer plants.
The release noted that the Prysmian Group was the only cable maker in the region that could supply all the necessary cable. Irene C. Wilson, Oil & Gas Asia Pacific Business Director at Prysmian Group, said that JG Summit is a new client that has huge projected growth in the petrochemical and LNG front future."
The Prysmian Group announced that it has been awarded a contract worth approximately €40 million for a new submarine cable connection between the isle of Capri and Sorrento (Naples) from an Italian transmission system operator.
A press release said that the contract, from Rete Italia SpA, a business of Terna SpA, calls for the turn-key installation of an HVAC 150 kV power cable link between the power stations located in Sorrento and on Capri’s Gasto ecological island, following a 16-km submarine and 3-km land route. The Capri-Sorrento cables will be manufactured at Prysmian’s plant in Arco Felice (Naples), with cable laying done by the Prysmian vessel, "Cable Enterprise." Prysmian will provide all the related network components and required specialist civil engineering works.
The project, which is scheduled for completion in 2019, follows a prior related contract from Terna, the release said. In 2013, Prysmian was chosen to be cable supplier for the Capri-Torre Annunziata project, a HVAC 150 kV submarine cable connection between Capri and the mainland that was approximately 31 km in length.
"It is a source of great satisfaction and pride to be involved in the creation of infrastructure of such strategic importance and prestige for Italy," said Massimo Battaini, senior vice president of energy projects for the Prysmian Group. The second power link will complete the Capri connection ring, increasing the efficiency and reliability of the island’s power system.
The Prysmian Group notes that it has completed a number of important infrastructure projects in the Mediterranean Basin, such as the SA.PE.I. connections (Sardinia-Italian mainland), Sorgente-Rizziconi (Sicily-Calabria), and Capri-Torre Annunziata in Italy; Spain-Morocco, Iberian Peninsula-Mallorca, Mallorca-Ibiza in Spain; and the recently completed longest connection of the Cyclades submarine ring in Greece.
The Prysmian Group announced that it has been awarded a contract by Cobra Wind International Ltd. to provide the cable system to connect the Kincardine Floating Offshore Wind Farm to mainland U.K.
A press release said that the order, Prysmian’s first cable project for a floating offshore wind farm, calls for the design and supply of two export cables as well as inter-array cables and associated accessories to connect the turbines. The Kincardine Wind Farm, is some 15 km southeast of Aberdeen, to the Scottish mainland power grid.
Each of the continuous export cables will serve the 17 km route, using a static cable design combined with a 0.5 km dynamic cable route section to complete the connection to the floating turbine tower. The 33 kV three-core submarine cable will use EPR insulation system, with the static section length finished with single wire armoring, while the dynamic section will employ a double-wire armored design. The submarine cables will be produced at the Group plants in Vilanova, Spain, and Drammen, Norway. Installation is planned during 2018 and 2019.
The Kincardine project is planned to be built in two stages. A single turbine 2 MW first phase is scheduled to be installed this year, followed by a six-turbine second phase with hardware of up to 8.4 MW each. The first phase will consist of a Vestas V80 2 MW machine with a 106-meter tip height and 80-meter rotor diameter.