France and Eire signed contracts on Friday to advance the Celtic Interconnector, a subsea electrical energy hyperlink to permit the trade of electrical energy between the 2 EU international locations. Will probably be the primary interconnector between continental Europe and Eire.
Representatives for Eire’s electrical energy grid operator EirGrid and France’s grid operator RTE signed monetary and technical agreements for the high-voltage submarine cable. The international locations’ respective vitality ministers witnessed the signing.
European commissioner for vitality Kadri Simson mentioned:
Within the present vitality market scenario and the necessity to transfer away from imports of Russian fossil fuels, European vitality infrastructure has turn out to be extra necessary than ever.
The Celtic Interconnector is of paramount significance as it’ll finish Eire’s isolation from the Union’s energy system and guarantee a dependable high-capacity hyperlink enhancing the safety of electrical energy provide and supporting the event of renewables in each Eire and France.
EirGrid and RTE signed €800 million ($827 million) price of financing agreements with Barclays, BNP Paribas, Danske Financial institution, and the European Funding Financial institution.
In 2019, the venture was awarded a Connecting Europe Facility (CEF) grant price €530.7 million to help building works. The CEF program additionally supplied €8.3 million for the Celtic Interconnector’s feasibility research and preliminary design and pre-consultation.
Siemens Vitality will construct converter stations in each international locations, and Paris-based world cable firm Nexans will design and set up a 575-km-long cable for the venture.
The cable will run between East Cork, on Eire’s southern coast, and northwestern France’s Brittany coast and can join into substations at Knockraha in Eire and La Martyre in France.
The Celtic Interconnector, which is anticipated to be operational by 2026, can be roughly 600 km (373 miles) lengthy and have a capability of 700 MW, which is sufficient to energy 450,000 households.
Picture: Nexans
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