Prysmian completes Atkore deal, leads Italian U.S. push - 19 October 2026

As of October 19, today’s news is dominated by Prysmian's successful acquisition of Atkore, along with ongoing discussions on global energy transitions and technology investments. Prysmian has completed the acquisition of Atkore, a key player in electrical solutions and infrastructure, for approximately 3.8 billion dollars, with consolidation set to begin on November 1. Massimo Battaini, Prysmian's CEO, highlighted that this acquisition marks a significant step in Prysmian's evolution towards becoming an integrated operator, bolstering their offerings to enhance efficiency in project execution, particularly in the expanding data center sector. Furthermore, Corriere della Sera highlighted a surge in Italian investment in the US, led by companies such as Prysmian, Angelini and Enel. With its acquisition of Atkore, Prysmian has surpassed 11 billion dollars in total US acquisitions, focusing on energy infrastructure for data centers and AI, Corriere della Sera reported. In the backdrop of Prysmian’s acquisition, Italy's ECCO climate think tank reported that Italy is lagging in its energy transition targets for 2030, having met only 15% of its objectives. Despite positive growth in renewable energy installations, the pace remains below necessary levels, impacted by sluggish permitting processes and an increase in greenhouse gas emissions. This slow progress indicates a need for urgent measures to realign with European climate goals, which could affect broader market dynamics. Turning to the energy landscape globally, China's fossil-fuel power generation saw a decline for the third consecutive month, with clean energy outputs, particularly from nuclear, on the rise. This shift in China's energy generation indicates a slow but persistent transition towards less carbon-intensive energy sources. From the technology sector, Microsoft announced its withdrawal from a notable data center deal with Nscale in the UK due to significant power connection delays. This highlights challenges faced in scaling infrastructure to support AI ambitions in the region and may impact future technology investments in Britain. In the context of competitor activity, firms such as NextEra Energy expressed concerns over the US Interior Department's plans for geothermal lease sales potentially overlapping vital solar projects. This situation exemplifies the ongoing complexities within the renewable energy landscape as various developers navigate conflicting interests in land use.