Financing Boosts Prysmian’s Role in Europe’s Energy Transition
Prysmian Group signed a €450 million finance agreement with the European Investment Bank (EIB) to boost electricity transmission and renewable energy connectivity across Europe. This partnership helps Prysmian expand clean energy infrastructure while supporting Europe’s transition toward sustainable power generation.
The funds will support the production of extra-high-voltage submarine and onshore power cables. Prysmian will also upgrade existing equipment and expand facilities in Finland, Italy, and France. These manufacturing improvements aim to meet the growing demand for offshore wind projects and renewable electricity distribution.
EIB Financing to Double Prysmian’s Cable Production
Through this investment, Prysmian will double its cable production capacity from 2,000 km to over 4,000 km per year. The company will achieve this increase by adding new production lines at its plants in Pikkala (Finland), Pozzuoli (Italy), and Grô n (France).
Furthermore, the expansion will create new jobs while improving operational efficiency. It supports the European Union’s clean energy targets, especially in scaling submarine cable solutions that connect offshore renewable energy sources with mainland grids.
Advancing Clean Energy Through Strategic Partnerships
“The EIB’s investment helps us strengthen Europe’s clean energy infrastructure,” said Massimo Battaini, CEO of Prysmian Group. “This agreement recognizes the crucial role our company plays in delivering the energy transition and supporting the EU’s climate and sustainability goals.”
The European Investment Bank, owned by the EU’s Member States, provides long-term financing for projects that promote sustainable growth. Its funding for Prysmian aligns with the REPowerEU framework, which mobilizes €45 billion in additional investments by 2027.
Almost half of the activities financed under this agreement will take place in key cohesion regions such as Campania (Italy) and Burgundy (France), helping balance regional development and support inclusive economic growth.
Driving Innovation and Energy Equality Across Europe
This new funding continues a long-standing partnership between Prysmian and the EIB. In recent years, the bank has financed Prysmian’s R&D and production centers of excellence, further boosting the company’s innovation capacity across Europe. Over the past five years, the EIB Group has provided more than €58 billion in loans to support sustainable projects in Italy alone.
By expanding renewable energy production capacity and connecting remote regions through advanced power cable networks, Prysmian reinforces its commitment to clean energy, job creation, and innovation-driven growth.
Learn more about Prysmian’s energy transition projects at Prysmian Group’s official website.