The London-based major contractor has announced that it has become possible to build a high-capacity undersea electric transmission line between the UK and Germany after raising the total amount required for investment.
Construction of the high-performance cable, with a budget of €2.8 billion, will begin this year and be completed by 2028. The investment is being funded by private investors, including French, Japanese and German electrotechnical companies, as well as 20 different financial institutions and the European Investment Bank.
The giant 725-kilometer pipeline will be one of the largest such investments in the world, with a capacity of 1.4 gigawatts to transmit electricity between the two countries in both directions and will be able to supply 1.5 million households.
Britain’s electricity grid has already been connected to the grids of other countries. It is currently connected by two pipelines to France and a 720 km submarine cable to Norway.
The construction of the high-capacity pipeline is part of the British government’s strategy to achieve carbon neutrality by 2050. According to the recently revised energy policy, the exploitation of wind, solar and nuclear energy will play a greater role in the future, but the use of fossil energy from the North Sea will not be abandoned either.
And the British government decided, on Wednesday, the possibility of building a new nuclear power plant in the island country, with the investment of the large French state company EDF, which will be able to supply 6 million families.
Regarding investment, the British Minister of State for Energy, Greg Hands, also spoke, who said that in order to separate from Russian energy, energy cooperation between European countries must be strengthened.
