Orange, Equitix and MDM form joint venture for Pisces subsea cable

Orange, infrastructure investor Equitix and Dublin-based subsea developer MDM have formed a joint venture to deliver the Pisces cable, a 3,125km system that would give Ireland a direct subsea route to continental Europe. MDM first announced the project in May 2024; the three-party venture was announced this week.

Deployment is expected during 2028, and the cable is to carry 16 fiber pairs, connecting Galway in Ireland to Saint-Hilaire-de-Riez in France, Sopelana in Spain and Carcavelos in Portugal. Orange will develop a new cable landing station at Sopelana to host it.

Equitix's investment runs through Equitix Infra Ireland, its dedicated Irish greenfield infrastructure fund anchored by the Ireland Strategic Investment Fund. Equitix was founded in 2007 and holds around $12 billion in assets under management, according to the announcement. The partners said the project benefits from "significant funding support" through the EU's Connecting Europe Facility, without quantifying that support, partner equity stakes or capacity pre-sales.

Carine Romanetti, a former Orange executive, has been appointed CEO of the joint venture and said her priority is to secure the next milestones and lead the project into delivery. Valérie Cussac, CEO of Orange Wholesale International, said Atlantic-coast subsea infrastructure becomes more critical as Europe accelerates its AI ambitions.

Pisces' 16 fiber pairs compare with Meta's planned system landing in France in 2029, which carries 48 pairs across roughly 7,000km, as this publication reported in September.