Italian company Prysmian Group announced its decision to cancel plans for an undersea cable manufacturing plant in Somerset, Massachusetts. The Fall River Herald News reported that Prysmian representatives delivered the news to the Somerset Board of Selectmen on Jan. 17.
In 2022, Prysmian revealed plans to acquire a 47-acre parcel at a decommissioned coal-fired power plant at Brayton Point Commerce Center and invest $200 million into producing subsea transmission cables that deliver offshore wind power to the electrical grid. That same year, the site drew a visit from former President Joe Biden, who delivered a speech on the advantages of clean energy.
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The Herald News reported that Prysmian declined to comment on whether President Donald Trump’s return to the White House influenced the decision to discontinue the project. According to Board of Selectman Chairman Jamison Souza, Prysmian cited a “market shift in the U.S. for offshore wind.”
Following his inauguration on Jan. 20, Trump signed an executive order that temporarily halted offshore wind lease sales in federal waters and suspended permits, loans, and approvals for offshore and onshore wind projects.
Prysmian spent nearly three years obtaining the required local and state permits. However, the company struggled to finalize the property purchase and begin construction due to a regulatory challenge filed by 12 community residents, commonwealthbeacon.org reported.
Since announcing the project in 2022, Prysmian received $25 million in state funding and a $20 million tax break from the town of Somerset. Souza estimated that the facility could have created up to 200 jobs and generated $14 million in annual tax revenue once fully operational.
Providence television station 12 News reported that real estate firm Commercial Development Company will relist the Brayton Point property.
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