Invenergy Transmission and Prysmian Announce Long-Term Supply Agreement and Manufacturing Facility Expansion, Bolstering America's Electricity Transmission Supply Chain
HIGHLAND HEIGHTS, KY / ACCESSWIRE / April 26, 2023 / Prysmian Group North America - a world leader in energy and telecommunications cable systems - and Invenergy Transmission- an affiliate of American-led Invenergy, the leading privately-held developer, owner, and operator of sustainable energy solutions - today announced a long-term supply agreement that includes a $22.5 million investment to expand domestic manufacturing capacity of advanced transmission conductor technology. The expansion of Prysmian's existing manufacturing facility in Williamsport, Pennsylvania, funded in substantial part by the supply agreement with Invenergy Transmission, will create at least 27 new jobs in Lycoming County, Pennsylvania and retain 407 jobs statewide, including 250 jobs at the project site.
Conductors are the metallic lines that electricity travels along on transmission infrastructure projects, and they are a critical technology for the reliability and resilience of the U.S. power grid. Through this long-term supply agreement, Prysmian will supply up to 12,500 miles of overhead conductor cable through 2029 to support Invenergy's portfolio of long-distance high-voltage direct-current (HVDC) transmission projects in the U.S. Invenergy Transmission expects the conductor order to support projects including the Grain Belt Express and New Mexico North Path lines. The 5,000-megawatt Grain Belt Express project will improve affordability and reliability for consumers across four vital U.S. power grids, including the regional grid that serves Pennsylvania, the PJM Interconnection.
"High-voltage direct current transmission has the potential to reshape our country's power grid by providing unmatched reliability and resilience," said Shashank Sane, executive vice president and head of transmission at Invenergy. "Through this long-term supply agreement with Prysmian, Invenergy Transmission is securing the best technology for our transmission projects to deliver electricity Americans can count on while also supporting U.S. manufacturing jobs and onshoring key parts of the clean energy supply chain."
This expansion will double the United States' ability to manufacture advanced transmission conductors with E3X® technology. Prysmian's E3X® advanced conductor technology increases the capacity, efficiency, and reliability of transmission lines, allowing for more electric power to be transmitted with low losses and delivered across long distances without expanding the physical footprint of the project. The facility expansion includes a 51,000-square-foot addition to the existing building to create more manufacturing space, and a retention pond to handle increased stormwater run-off.
"This agreement between Prysmian and Invenergy will bring new jobs to Pennsylvania and help support the Commonwealth's role in the clean energy industries and technologies of the future," said Acting Secretary of the Pennsylvania Department of Community and Economic Development (DCED) Rick Siger. "The companies' investments in domestic manufacturing and jobs to produce advanced transmission conductor cabling will provide American energy consumers with more access to affordable, reliable, clean energy. The DCED team is pleased to have worked work with both partners on this important manufacturing facility expansion."
"Across North America, we're upgrading our centers of excellence like Williamsport to meet the growing needs of the power transmission and distribution market. Through our partnership with Invenergy Transmission, we're able to invest in not only expanding our capacity for the entire North American market, but we are also investing in cutting-edge technology, like E3X®, that helps create a flexible, resilient, and low-carbon grid," said Andrea Pirondini, CEO of Prysmian Group North America. "The partnership reflects not only a shared dedication to building a grid prepared to meet the challenges of the future but also a shared commitment to retaining and creating U.S. manufacturing jobs."
"We are pleased to have this investment being made by Invenergy Transmission and Prysmian at the Williamsport plant," said Jason Fink, President/CEO, Williamsport/Lycoming Chamber of Commerce. "Prysmian is a great employer and corporate citizen in the community. This expansion will add another 27 family-sustaining jobs here with wages for 20 of the positions paying over $50,000 and the remaining seven at more than $70,000."
Prysmian Group North America
Prysmian Group is a multinational company headquartered in Milan, specializing in the production of cable and systems for use in the energy and telecom industries. Prysmian is the largest cable producer in the world with 30,000 associates and $16 billion in sales. Prysmian is present in North America with 28 plants, 48 in Europe, 13 in Latin America, 7 in the Middle East, Africa and Turkey, and 13 in Asia-Pacific.
Based in Highland Heights, Ky., Prysmian Group North America's operations include 28 manufacturing facilities, eight distribution centers, six R&D centers, and more than 6,000 associates with net sales of $6 billion. Additional information is available at na.prysmiangroup.com.
Invenergy Transmission is an affiliate of Invenergy. Invenergy and its affiliated companies develop, own, and operate large-scale renewable and other clean energy generation, and storage facilities in the Americas, Europe, and Asia. Invenergy's home office is located in Chicago, and it has regional development offices in the United States, Canada, Mexico, Spain, Japan, Poland, and Scotland.
Invenergy and its affiliated companies have successfully developed more than 30,000 megawatts of projects that are in operation, construction, or contracted, including wind, solar, transmission infrastructure and natural gas power generation and advanced energy storage projects. Learn about Invenergy at Invenergy.com.
SOURCE: Prysmian Group
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