The Italian Group, leader in the cable systems industry, thanks to the new resources granted by Cassa Depositi e Prestiti, will invest in R&D for network upgrading purposes
THE PROJECT IS IN LINE WITH THE PARIS AGREEMENT AND THE EUROPEAN GREEN DEAL AND HORIZON EUROPE DIRECTIVES ON THE PRODUCTION OF RENEWABLE AND CLEAN ENERGY
Supporting R&D plans focused on the implementation of innovative technologies, contributing to strengthening digitalisation processes, while cutting emissions to facilitate the energy transition: these are the aims of the new €120 million loan granted by CDP to Prysmian Group, the Italian world leader in the energy and telecom cable systems industry, which has set out an R&D investment and expenses plan with particular reference to Italy, France, The Netherlands, Spain and Germany for the 2021-2024 period.
In detail, the initiative financed is part of a larger project focusing on four areas relating to: innovative materials research (from the use of nanotechnology to new sustainable materials and solutions, management of low-voltage power grids and systems, and hybrid cables for the energy and telecommunications sector); testing (from the use of alternative materials for cable design to advanced cable operation technologies); new product development (from dynamic cables for offshore renewable energy to high-performance optical fibre, e-mobility cable solutions and design of sensors for localising, monitoring and managing power grids); and digital transformation and sustainability (from the implementation of digital solutions for machine learning and artificial intelligence to the development of sustainability impact assessment models).
The development of the R&D activity carried out by Prysmian is also in line with the Paris Agreement, and the European Green Deal and Horizon Europe directives for the promotion of clean, renewable energy, ensuring the interconnection of integrated systems of renewable resources through cable systems.
The new resources granted to the Group are part of a long-standing collaboration between CDP and Prysmian Group and confirm the commitment of CDP to supporting Italian companies in their growth, expansion, and technological and digital development plans.
“This transaction confirms the important role of CDP in supporting an Italian Group that is among the global leaders of its industry and invests considerably in research and development to continue its innovation journey,” stated Andrea Nuzzi, Head of Corporate and Financial Institutions, CDP.
“The new loan, with a 6-year maturity, further strengthens the whole Group’s financial structure. We are extremely satisfied with CDP’s ongoing support and trust,” commented Giovanni Zancan, Group Finance Senior Vice President of Prysmian Group.
