Neuconnect receives legislative approval

In: CablesInterconnectors
01/10/2020
 On Wednesday, 23 September 2020, the German Federal Government passed the bill under which the Neuconnect project will operate, which is a significant step in project’s development.

The 1.4 GW
Neuconnect was one of the 35 network expansion projects included in plans by Germany’s Federal Ministry of Economic Affairs and Energy (BMWi)  to receive approval on Wednesday.

NeuConnect CEO Christophe Vanhove commented on the recent development:


‘Despite the challenging times, the
NeuConnect project continues to make good progress. The decision of the German Federal Government is an important part of a future-oriented energy policy in Germany and a clear commitment to UK-German cooperation in the energy sector. By creating the first direct electricity link between Germany and the UK, NeuConnect will help deliver lower electricity prices for businesses and consumers.’

The £1.4bn / €1.6bn
project is privately financed by an international consortium of Meridiam (France), Allianz Capital Partners (Germany) on behalf of Allianz Group and Kansai Electric Power (Japan), with the project also supported by Greenage Power and Frontier Power as developers. The project developers held a meeting with the UK's Minister for Investment, Lord Grimstone, in June 2020 to highlight its strong progress.

The 700 km long
Neuconnect is scheduled to be fully commissioned in 2023.

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