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The European Investment Bank (EIB) has agreed to contribute €300 million towards the cost of the BritNed Interconnector, a submarine electricity transmission cable between the UK and the Netherlands.

The €600 million project is a joint venture between grid operators National Grid and TenneT, each of whom will receive €150 million from the EIB.

The BritNed Interconnector will have a capacity of 1000 MW and will make a major contribution towards the reliability and security of supply between the two nations, as well as with European markets more generally.

The new link will be particularly significant to the development of a European offshore grid able to integrate increasing levels of offshore wind and marine power in coming decades.

Construction on the 260 km high-voltage direct current (HVDC) submarine power cable linking the Isle of Grain in Kent and Maasvlakte near Rotterdam has already started and should be completed by the end of next year. The link will start commercial operation in the following year.

“The BritNed cable provides a significant number of advantages, for producers and consumers alike,” says Mel Kroon, CEO of TenneT.

“International trade will increase, which will result in more stable prices for electricity in both countries and furthermore improves the security of supply.”

For further information:
www.bei.org/
www.nationalgrid.com/uk/
www.tennet.org/english/index.aspx
www.britned.com

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