Italy's prysmian lands clean path New York cable deal

Italian cable maker Prysmian (PRY.MI) said on Monday it had signed a deal worth about 900 million euros ($954 million) with a public-private consortium to supply a submarine and land power cable system in the state of New York.

Prysmian said in a statement that it will design, manufacture, construct, install and commission a high-voltage direct current (HVDC) 400 KV (kilovolt) single core cable system with XLPE insulation for Clean Path New York, a renewable energy project that is worth $11 billion in total.

The joint venture between Invenergy, energyRe, and the New York Power Authority, comprises 3,800 MW (megawatt) of wind and solar power from more than 20 new resources and a 175-mile (281.64 km), underground and submarine transmission link.