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Prysmian Group secures first-ever submarine power link in Capri

Milestone project will allow reduction of CO2 emissions into the atmosphere by approx. 130 thousand tons per year

Milan, Italy   -   09/24/2013   -  PRICE SENSITIVE

Prysmian, first-ever submarine power link in Capri.

€ 70 M contract awarded by Terna to connect the Blue Island to the mainland.

Milestone project will allow reduction of CO2 emissions into the atmosphere by approx. 130 thousand tons per year.

Milan, 24 September , 2013 – Prysmian Group, world leader in the energy and telecom cable systems industry, has been awarded a new contract worth approximately € 70 million, for the connection of the island of Capri and Torre Annunziata (Naples), by Terna Rete Italia S.p.A., a company fully owned by Terna S.p.A., the Italian Transmission System Operator. The link is part of a wider scope project planned by Terna and known as ''Progetto Insula'', to connect the main Italian islands - Sardinia, Sicily, Elba, the islands of the Gulf of Naples, the Venetian Lagoon – to the mainland, with state-of-the art technology submarine cables.

The project involves supply and installation of a High Voltage Alternate Current (HVAC) 150 kV power cable connection comprising of 30 km submarine route and of 1 km of land cable, as well as related network components and specialist civil works on either ends, running from the mainland to Terna’s innovative power station with low environmental impact and sustainable design criteria located in Capri’s Gasto Ecological Island.

The cables for the Capri-Torre Annunziata link will be manufactured in the Arco Felice plant (Naples), the Group's centre of technological and manufacturing excellence. Marine cable laying will be performed by the Group’s owned "Giulio Verne" cable-laying vessel. Completion of the project is due by 2015.

"It’s a source of great satisfaction to be involved in the realisation of infrastructure of such great strategic and environmental importance," said Valerio Battista, CEO of Prysmian Group. “The track record of projects carried out and on-going, further confirms our leading role in the development of interconnections for increasingly efficient and sustainable power transmission grids in Europe and worldwide”.

The purpose of this first-ever power link is to strengthen Capri’s entire power system and make it safer and cost-effective. The project will help increase the reliability and security of the power resources of the island with the goal of minimising risks of blackout, mostly during the summer period when tourism, and therefore also power consumption increase. Strong focus on environment and territory are key features of this zero impact power link that will allow preserving the immense landscape value of Capri and of the surrounding coast, thus allowing reduction of CO2 emissions into the atmosphere by approx. 130 thousand tons per year.

In the Mediterranean Basin Prysmian has carried out (or is currently carrying out) projects like the MON.ITA (Montenegro – Italy) and the Italy-Greece interconnections, SA.PE.I. (Sardinia to Italy mainland) and Sorgente-Rizziconi (Sicily to Calabria) in Italy; Spain-Morocco, the Iberian Peninsula-Mallorca and the recently-awarded Mallorca-Ibiza in Spain. In Europe, Prysmian is actively engaged in initiatives for the future development of power grids, such as "Friends of the Supergrid" - to promote a new concept pan-European power supergrid - and Medgrid - to develop a subsea transmission grid that will transport renewable energy from North Africa to Europe. The Group has recently co-founded Norstec, an association of the key players in the global energy sector, whose aim is to support the production of renewable energy by offshore wind farms in the North Sea.

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Prysmian Group

Prysmian Group is world leader in the energy and telecom cables and systems industry. With sales of some €8 billion in 2012, more than 20,000 employees across 50 countries and 91 plants, the Group is strongly positioned in high-tech markets and offers the widest range of products, services, technologies and know-how. In the Energy sector, Prysmian Group operates in the business of underground and submarine power transmission cables and systems, special cables for applications in many different industrial sectors and medium and low voltage cables for the construction and infrastructure industry. In the Telecom sector, the Group manufactures cables and accessories for the voice, video and data transmission industry, offering a complete range of optical fibres, optical and copper cables and connectivity systems. Prysmian is a public company listed on the Milan Stock Exchange in the FTSE MIB index.