Prysmian Group invests €120M to expand submarine cable capacity in Pikkala, Finland

Prysmian Group announced a €120 million investment in its Pikkala, Finland plant to increase production capacity of 525 kV HVDC submarine cable systems, adding to the €100 million invested in 2022. The new VCV lines will more than double existing capacity by 2026.

“The investment is part of the around €500 million capex per year that the Group is implementing to support the energy transition, electrification and digitalisation processes, which require the upgrade of power grids and telecom networks.”prysmian.com

• 2 sources
• prysmian.comPrysmian Group to create a power transmission cable technology hub in Finland, supporting the grid upgrade for the global energy transition | PrysmianJun 1, 2023
• wireworld.comPrysmian To Raise €120m For Finnish Factory Expansion | Wire World InternetJun 5, 2023

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