Prysmian buys ACSM as Europe doubles down on offshore wind - Jan 23, 2026

As of January 23, today’s news is dominated by Prysmian's significant acquisition in the submarine cable sector and continued commitments by European governments towards renewable energy expansion amidst external criticisms. Prysmian will acquire ACSM, a Spain-based leader in solutions for submarine cable installation, including subsea surveying, route planning and seabed preparation activities with over 20 years of experience in the offshore cable sector. The transaction value is 169 million euros, the company said in a statement. The transaction will strengthen Prysmian’s global leadership in submarine cables. Integrating ACSM will broaden Prysmian’s range of solutions for energy and telecom customers as a one-stop shop and accelerate the full vertical integration of its submarine activities, bringing in-house industry leading know-how and assets. Meanwhile, European nations, including Germany, the UK, and Denmark, are doubling down on their commitments to offshore wind energy despite criticism from US President Donald Trump. A draft declaration from a recent summit indicates plans to enhance offshore wind capacity significantly, targeting a total of 300 gigawatts by 2050. Turning to the markets, copper prices have seen a modest rise following a strike at Capstone Copper's Mantoverde mine in Chile, which has put production on hold. This supply disruption is anticipated to influence copper pricing moving forward. Concurrently, Freeport-McMoRan reported that a significant portion of production at its Grasberg mine is expected to resume in the latter half of this year, following previous operational setbacks. In Australia, the government has announced three new offshore wind permits that could introduce 4 gigawatts of renewable energy. This move signals a renewed effort in offshore wind generation following previous project setbacks. From a broader perspective, US stocks have dipped as Intel faced challenges meeting the strong demand for AI-related data-center chips due to supply chain issues. This downturn, coupled with lingering geopolitical tensions, has affected market sentiment and contributed to a decline in major indexes. Finally, on the global stage, geopolitical dynamics are being recalibrated between Europe and the US as leaders navigate Trump's assertive stance, particularly concerning territorial discussions like those surrounding Greenland.