(Alliance News) - Prysmian Spa announced Tuesday that it has finalized the contract for an order worth about EUR1.9 billion awarded by Eastern Green Link 2 Limited, a joint venture between SSEN Transmission and National Grid Electricity Transmission PLC, owners of the electric transmission systems in the UK.

Under the order, Prysmian will supply a major high-voltage DC cable system for the development of the Eastern Green Link 2 network connecting Scotland and England, the company explained in a note.

The award of the EGL2 order, which can now be included in Prysmian's order backlog, follows the company's previous selection as exclusive preferred bidder in May last year and its subsequent commitment in June to ensure Prysmian's continued availability of capacity for the project.

The new link is expected to be operational in 2029.

On Monday, Prysmian closed 2.1 percent in the red at EUR44.29 per share.

By Claudia Cavaliere, Alliance News reporter

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