Iberdrola to Build $1.6 Billion Cable for Scottish Windfarms
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Iberdrola SA and National Grid Plc awarded Siemens AG and Prysmian SpA a 1 billion-pound ($1.6 billion) contract to build an undersea link to transmit renewable power between England, Wales and Scotland.
Siemens and Prysmian, a Milan-based cable maker, will build the first subsea electricity connection between the nations for operation by 2016, Iberdrola said in a statement today. It’s the first major project as part of Iberdrola’s 2.6 billion-pound plan to upgrade its U.K. transmission network.