Prysmian Group, a leader in power and telecom cables, is advancing the energy transition by enhancing critical infrastructure for renewable energy. The company’s initiatives focus on expanding production capabilities and integrating sustainable practices to support Europe’s decarbonization efforts.
In 2024, Prysmian secured a €450 million loan from the European Investment Bank to increase its production of extra-high-voltage submarine and onshore cables. This investment has allowed Prysmian to double its output at three factories in Europe, raising annual cable production from 2,000 kilometers to 4,000 kilometers. These cables are vital for long-distance interconnections and offshore wind projects that are essential for meeting the European Union’s 2030 climate goals.
One notable project is Prysmian’s €929 million contract with Amprion in Germany to supply high-voltage submarine cables for offshore wind farms. This contract underscores Prysmian’s strong presence in the rapidly growing renewable energy sector. Additionally, Prysmian is collaborating with E.ON under a long-term agreement to modernize Germany’s grid with low and medium voltage cables, facilitating the infrastructure needed for electric vehicle (EV) charging, solar and wind energy integration, and battery storage. E.ON’s €6 billion grid modernization plan highlights the increasing demand for Prysmian’s solutions.
Sustainability is a key focus for Prysmian. The company has incorporated up to 50% recycled polyethylene in its cable sheaths, which has led to an 80% reduction in carbon emissions compared to traditional materials. Furthermore, over 80% of Prysmian’s aluminum is sourced from low-carbon facilities, and renewable energy sources, including solar and biogas, power its manufacturing processes. These efforts align with the European Union’s circular economy strategies and meet the expectations of environmental, social, and governance (ESG) investors.
Prysmian’s recent $950 million acquisition of Channell, a specialist in fiber-optic solutions, aims to enhance its smart grid capabilities. By merging fiber-optic infrastructure with high-voltage cables, Prysmian enables real-time monitoring and predictive analytics for grid operators, which is essential for managing the variability of renewable energy sources and improving grid performance.
Financially, Prysmian shows resilience and growth. In the first quarter of 2025, the company reported a 15% year-over-year increase in adjusted EBITDA, reaching €527 million, while revenue grew by 9.3% to €4.03 billion. The Power Grids & Renewables division now constitutes 56% of total revenue, reflecting a strategic shift towards high-margin projects aligned with decarbonization initiatives. With an order backlog of €19.1 billion and a net debt-to-EBITDA ratio of 1.6, Prysmian has the financial flexibility to pursue additional investments or acquisitions.
Investors may find Prysmian appealing due to its alignment with global decarbonization trends. The company’s projects support the EU’s REPowerEU plan and Germany’s energy transition, both of which are backed by strong policy frameworks. As the demand for renewable energy and electric vehicles grows, Prysmian’s cables and smart grid solutions are positioned to see increased demand.
Prysmian is more than just a cable manufacturer; it is a foundational player in the energy transition. Its efforts in integrating smart grids, electric vehicle infrastructure, and renewable energy systems contribute to the necessary infrastructure for a sustainable future. For those looking to invest in the energy transition while supporting ESG principles, Prysmian presents a compelling mix of innovation, sustainability, and financial strength.
