Iberdrola awards €2 billion contract to Prysmian for subsea cable

Iberdrola SA said its UK subsidiary SP Energy Networks has awarded a EUR2.3 billion contract to Milan-based cable manufacturer Prysmian Spa to manufacture the cable for a submarine interconnector

The Bilbao, Spain-based electric utility said the cable will be used for the Eastern Green Link 4 submarine interconnector, a core part of electrical infrastructure, between Fife in Scotland and Norfolk in England.

Using high-voltage direct current technology, the interconnector will support the the transmission of enough renewable energy to supply over 1.5 million homes.

Iberdrola said the 2,000 megawatt link will become operational in 2033.

"Eastern Green Link 4 will strengthen the country's ability to transfer electricity between regions, reduce constraints on electrical networks and increase security of supply. It will also facilitate the integration of new clean energy sources and support industrial development and economic growth.

"Prysmian will manufacture more than 640 kilometres of cable for this project, including 530 kilometres of HVDC submarine cable and more than 116 kilometres of underground cable. This technology allows large volumes of energy to be transported over long distances with maximum efficiency, a decisive factor in advancing towards national clean energy generation targets," Iberdrola explained.

According to Iberdrola, planning applications will be submitted in Scotland and England throughout 2026 with construction slated to begin in 2029 once approval from the UK's energy minister has been secured.