Prysmian Group Pikkala Finland Plant Expansion Supports Global Energy Transition
Prysmian Groupย plans to investย โฌ120 millionย in itsย Pikkala, Finlandย facility, which produces high-tech cables for global power transmission, interconnections, and offshore wind projects. Theย Prysmian Group Pikkala Finland plant expansionย reinforces the companyโs leadership in supporting renewable energy growth and the global energy transition.
Major Investment Strengthens Production Capabilities
This latest investment adds to theย โฌ100 millionย that Prysmian allocated to the plant in 2022. With the new funding, the company will expand production capacity for itsย 525 kV HVDC submarine cable systems. These advanced systems will help meet rising global demand for power grid upgrades tied to renewable energy projects.
The plan also includes the addition of newย Vertical Continuous Vulcanization (VCV) lines, which will more than double the plantโs current output ofย 525 kV extruded submarine cablesย andย 400 kV AC cablesย byย 2026.
Enabling Grid Expansion for the Energy Transition
According toย Massimo Battaini,ย COO of Prysmian Group, this investment forms part of the companyโs annualย โฌ500 million capital expenditure planย supporting energy transition, electrification, and digitalization. Battaini highlighted that Prysmianโs strong financial position enables the company to sustain this level of global expansion and technological innovation.
Industry forecasts show strong momentum: the global power transmission cable market is expected to grow fromย โฌ8 billion in 2022ย toย โฌ15 billion by 2030. This growth underscores the importance of advanced power infrastructure in achieving carbon reduction goals.
Strategic Global Cable Manufacturing Network
Hakan Ozmen,ย EVP Projects BU, stated that Prysmianโs global strategy now centers around three major power transmission hubs:
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Northern Europe, anchored by the Pikkala expansion in Finland.
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The Mediterranean, driven by overย โฌ100 millionย invested in theย Arco Felice, Italyย plant.
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North America, supported by a completely newย submarine cable facility in Massachusetts, USA.
These hubs will allow Prysmian to serve the growing offshore wind and interconnection markets while advancing its climate objectives.
Pikkala: A Net-Zero Flagship Facility
Ferdinando Quartuccio,ย CEO of Prysmian Group Finland, described Pikkala as the companyโs flagship plant for the energy transition. Running entirely on green energy, it stands asย the first cable manufacturing plant in the world to achieve net-zero status.
By expanding this facilityโs capabilities, Prysmian continues to pioneer sustainable innovation and global electrification.
For more details, visitย Prysmian Groupโs global site.
