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Unless there are local codes that require TML insulation, PVC insulation should be OK. In the U.S. National Electrical Code, PVC insulation is comparable to THW-2 or TW which is allowed for submersible pumps.
"Twisted Type TW Thermoplastic PVC Submersible Pump Cable - UL Approved - CLIPPED from U.S. supplier website." Do be careful when making the splices. PVC insulation usually has a lower temperature rating than the TML (EPR) insulation thus lower amp rating for same wire size. You want to be sure to check for voltage drop issues due to often long wire runs. If you have sized the cable for low voltage drop, ampacity rating usually is well taken care of.