Prysmian secures $955 million deal for one of the largest transmission infrastructure projects in U.S.
(UI) – Prysmian Group has signed an agreement worth approximately €900 million ($955 million) with Clean Path New York to provide submarine and land power cable systems for one of the largest transmission infrastructure projects in the United States.
Clean Path New York is an $11 billion renewable energy project comprising 3,800 MW of wind and solar power from more than 20 new wind and solar generation resources and a new 175-mile, underground and submarine transmission link. Together, these assets will enable the delivery of more than 7.5 million megawatt-hours of emissions-free energy every year—enough to power more than 1.5 million New York households. Clean Path New York is a public-private collaboration between Invenergy, energyRe, and the New York Power Authority.
Under the terms of the agreement, Prysmian Group will be responsible for the design, manufacture, construction, installation, and commissioning of Clean Path New York’s HVDC (high-voltage direct current) 400 KV single core cable system with XLPE insulation, conditional upon Clean Path New York issuing its notice to proceed in Spring 2024.
“Clean Path New York is one of the largest transmission infrastructure projects to be executed in New York State and is one the first 400 kV HVDC interconnectors to be built by Prysmian around the world. This agreement reinforces Prysmian Group’s leading position in the submarine and land cable market and underlines both our continued role in and our commitment to the North American energy transition,” said Hakan Ozmen, EVP Projects BU, Prysmian Group.
“High-voltage direct current transmission can reshape our country’s power grid by providing unmatched reliability and resilience. Despite industry headwinds, this agreement represents progress toward New York’s climate and sustainability goals,” said Shashank Sane, Executive Vice President of Transmission at Invenergy and Glenn Goldstein, President of Clean Path New York for energyRe.
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