Prysmian Group €1 Billion Energy Transition Plan Accelerates Growth
Prysmian Group, the global leader in cable manufacturing, continues to advance its €1 billion investment plan by 2024. The Prysmian Group €1 billion energy transition plan drives expansion in renewable energy infrastructure and modern power grids.
CEO Valerio Battista said that strong demand for renewable power continues to shape the company’s strategy. He noted that the trans‑European power grid plays a vital role in decarbonization and EU energy security, goals that gained urgency after the Russia‑Ukraine conflict.
“As a leader in the cable sector, Prysmian invests heavily in projects that connect renewable sources and strengthen global energy networks,” Battista explained.
Global Growth Through the Prysmian Group €1 Billion Energy Transition Plan
Prysmian aims to maintain its 35–40% market share in the high‑voltage submarine and underground cable market, expected to exceed €8 billion annually by 2025. In 2021, the Group secured €4.8 billion in new projects, confirming its market strength.
Furthermore, Prysmian is building the first high‑voltage submarine cable facility in Massachusetts, USA. The €200 million investment supports the country’s fast‑growing offshore wind industry and strengthens North American renewable infrastructure.
Expanding Centers of Cable Excellence
Across Europe, Prysmian continues expanding its production capabilities. The Arco Felice Plant in Naples will receive over €80 million to support the Tyrrhenian Link project. Similarly, the Pikkala facility in Finland will gain €100 million for offshore wind cabling, while the Gron plant in France will produce cables for the German HVDC network.
Together, these facilities—alongside those in Nordenham, Germany, and Drammen, Norway—strengthen Prysmian’s global manufacturing base. As a result, the company can deliver more efficient and sustainable cable systems worldwide.
Cleaner Projects Through Advanced Fleet and Innovation
Prysmian also improved efficiency with the Leonardo da Vinci, the world’s largest cable‑laying vessel. Built by Vard Group (Fincantieri), the €170 million ship shortens project timelines and decreases environmental impact.
The fleet now includes the barge Barbarossa, supported by operations in Arco Felice and Middlesbrough, UK. This expansion improves flexibility for international projects.
Innovation remains central to Prysmian’s success. Its 525 kV P‑Laser system enhances energy transmission efficiency, while advanced aramid‑armored cables operate at depths up to 3,000 meters. In addition, PRY‑CAM technology—developed by the new EOSS Division—offers real‑time monitoring and analytics for power networks, reinforcing Prysmian’s technological leadership.
