Prysmian lifts HVDC capacity to 2.5GW as oil spikes on Middle East tensions - Mar 2, 2026

As of March, today’s news highlights significant advancements in Prysmian's energy cable technology amid broader market fluctuations driven by geopolitical tensions and economic forecasts. Prysmian has completed testing and is ready to launch the new global standard for high voltage direct current (HVDC) submarine cable systems qualifying the use of 525kV submarine energy cables at an increased operating temperature of up to 90°C, the company said in a statament. This breakthrough, which is founded on the higher withstand temperature of the cable plastic insulation while operating, means that the maximum power that can be transmitted through a single 525kV link increases from today's standard of 2GW to 2.5GW – and this power can already be deployed in the existing HVDC network infrastructure, with no impacts on the rest of the system. Turning to market updates, European battery manufacturing continues to gain attention as a report by Transport & Environment indicates that scaling production within the EU could narrow the cost differential between European and Chinese-made batteries from 90% to approximately 30%. This shift is expected to reduce the costs associated with electric vehicles and enhance regional supply chain security, particularly against disruptions similar to those experienced with critical minerals sourced from China. The EU's forthcoming "Industrial Accelerator Act" aims to create a supportive environment for local manufacturing across strategic sectors including batteries and renewable energy sources. On the geopolitical front, tensions in the Middle East are causing immediate ramifications across global markets. Oil prices surged as U.S. and Israeli military actions against Iran have resulted in operational disruptions across the region and threaten to escalate tensions further. Brent crude prices have risen sharply, with market analysts noting a significant impact on investor sentiment and potential implications for global economic recovery. Additionally, BlackRock and EQT AB’s consortium announced a substantial acquisition of AES Corp for 33.4 billion dollars, reflecting growing investment in power resources as demand escalates, particularly fueled by advances in AI technology that rely heavily on energy infrastructure. This trend underscores the increasing significance of reliable power sources in light of rising energy consumption forecasts.