Siemens, Prysmian To Lay £1B UK Subsea Power Line

Law360, New York (February 16, 2012, 3:38 PM EST) -- The U.K.'s National Grid PLC and Spain's Iberdrola SA have awarded a £1 billion ($1.6 billion) contract to Siemens AG and cable manufacturer Prysmian SpA to build a subsea electricity link between Scotland, England and Wales to transmit offshore renewable power, the companies said Thursday.

The power line is the first big leg of Iberdrola’s £2.6 billion plan to double Scotland's power exports to England by 2021. That plan was granted fast-track approval last month by the U.K.'s Office of Gas and Electricity Management, which is...
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