General – Interconnector
According to Reuters work has begun on a 2.8 billion euro project to build the first power cable linking Britain and Germany.
NeuConnect Interconnector is leading this move to connect two of Europe’s largest energy markets for the first time.
The new energy link will extend over 725 kilometres (450 miles) in length, mostly under the sea, and will be one of the world’s largest interconnector projects.
The cables could transfer up to 1.4 gigawatts (GW) of electricity to flow in either direction between Britain and Germany, NeuConnect said in a statement on Wednesday.
The project will help boost energy security as Europe seeks alternatives to Russian pipeline gas following Moscow’s invasion of Ukraine.
The project is financed by France’s Meridiam, Germany’s Allianz Capital Partners and Japan’s Kansai Electric Power (9503.T) with a consortium of more than 20 banks and financial institutions, including the UK Infrastructure Bank and the European Investment Bank.
