News

PRESS RELEASE OF CENERGY HOLDINGS SA

Brussels, September 24^th, 2018

 

REGULATED INFORMATION

INSIDE INFORMATION

 

The enclosed information constitutes regulated information as defined in the Belgian law of 2nd August 2002 and the Royal Decree of 14 November 2007 regarding the duties of issuers of financial instruments which have been admitted for trading on a regulated market.

 

Cenergy Holdings announces that Independent Hellenic Transmission Operator (ADMIE) has awarded Fulgor a contract of approx. 140 mil. EUR to supply and install one of the two submarine cables to connect the island of Crete to the national power transmission grid in Peloponnese and all required underground cables to connect both submarine cables to the national power transmission grid on the side of Peloponnese (Lot A). Independent Hellenic Transmission Operator has also awarded Hellenic Cables a contract of approx. 41 mil. Euro for the supply and installation of the required underground cables to connect the two submarine cables to the power transmission grid of Crete in Chania area (Lot C).

The assignment to Fulgor covers the design and manufacturing of 135km 150 kV submarine cable and of 87km 150kV underground cables, the cable-laying operations up to a sea depth of approx. 950 metres, the cable protection up to a sea depth of 100 metres and the connection at the landing points located in South Peloponnese and Crete.  Furthermore, the assignment to Hellenic Cables covers the design and manufacturing of 204 km 150 kV underground cables and their installation along the land route from the landing points of the submarine cables in Crete up to the HV substation in Chania area. Both projects will be ready within 22 months from signature of the respective contracts.

The submarine cables will be manufactured at Fulgor’s plant located at Soussaki, Corinth, Greece, where the state of the art facilities and equipment of the Company enables the Company to produce and test some of the longest submarine cables in continuous lengths on a worldwide scale. The underground cables will be manufactured at Hellenic Cables’ plant located at Thiva.

The award of such major projects underline the leading position of Hellenic Cables and its subsidiary Fulgor in the submarine cable market and the global offshore energy industry in general. Moreover, it indicates their capability to achieve technologically advanced, cost-effective and reliable cabling solutions and to successfully execute complex turnkey projects. Over the last years, Fulgor has persistently developed knowhow and produced a wide range of technologically innovative products from high and extra high voltage submarine cables to optical fibre submarine cables.

The interconnection of Crete with the Hellenic national power transmission grid will strengthen the island’s energy supply, while it will also lead to a large financial alleviation for Greek consumers across the country.

 

About Cenergy Holdings

Cenergy Holdings is a Belgian holding company listed on both Euronext Brussels and Athens Stock Exchange, investing in leading industrial companies, focusing on the growing global demand of energy transfer, renewables and data transmission. The Cenergy Holdings portfolio consists of Corinth Pipeworks and Cablel® Hellenic Cables, companies positioned at the forefront of their respective high growth sectors. Corinth Pipeworks is a world leader in steel pipe manufacturing for the oil and gas sector and major producer of steel hollow sections for the construction sector. Cablel® Hellenic Cables is one of the largest cable producers in Europe, manufacturing power and telecom cables as well as submarine cables for the aforementioned sectors.