Prysmian Group to seize opportunities from electrification
Juan Mogollon, EVP Energy Division: “The upgrade of power distribution grids to bring renewable energy closer to our daily reality is urgent. That’s a fact”
Focus on tech-innovation, sustainable supply chain and customer proximity to support
Wind and solar generation, grid hardening and e-mobility
Prysmian Group, world leader in the energy and telecom cable systems industry, increases its focus on seizing growth opportunities stemming from ever-increasing electrification processes.
Shifting to renewable energy sources is a sweeping transformation that the world is undergoing, with power transmission grids playing a key role in the dispatching over longer distances and at higher voltage, and power distribution grids proving to be equally and increasingly crucial for integration and flexibility at lower voltages and for residential and commercial usage.
“To make solar and wind energy part of our daily reality and reach homes, office buildings, factories, and infrastructures we need stronger and more resilient power distribution grids and, therefore, cables. That’s a fact”, says Juan Mogollon, EVP of Prysmian Group’s Energy Division.
As recently published in the Group’s full year 2022 results, the Energy Division is now much less cyclical than in the past, thanks to a favorable business mix and a higher geographical diversification. 50-60% of the division’s revenues are generated from businesses supported by secular drivers, like Renewables, Power Grid, Mining, Mobility and Data Centers.
The Group has recently introduced Prysmian PRYSOLAR, the most innovative Photovoltaic Cable Solution in the market today, with durability tested and guaranteed for over 30 years, and with maximum reliability to reduce maintenance cost and optimise solar park efficiency.
“The development of high-tech solutions to support sustainability and accelerate carbon emission reduction is in the DNA of our R&D team: for example, the E3X® Robot System, launched in North America, reduces power losses in Overhead Transmission Lines. Also, we are increasing the recycled content in our products and our Design4Sustainability framework is a mainstay of our innovation approach”, remarks Mogollon.
Prysmian Group’s growth strategy is accompanied by increasing communication efforts aimed at providing a new narrative of the Energy Division for the benefit of both customers and the financial community.
To this purpose the Group has launched a new interactive platform providing insights on how Prysmian Group enables clean energy to power lives, communities, and everything around us.