NeuConnect, the first direct power link between the UK and Germany, achieved a key milestone this week by signing a licence agreement with The Crown Estate.
The agreement marks an important step forward, allowing major construction work to commence in the UK during the upcoming summer.
Led by global investors Meridiam, Allianz Capital Partners, Kansai Electric Power and TEPCO, the ambitious NeuConnect project carries a value of £2.4 billion and aims to become one of the world’s largest interconnectors.
The initiative will involve the installation of approximately 725 kilometres of land and subsea cables, creating an “invisible energy highway” between the UK and Germany.
This interconnection will have the capacity to facilitate up to 1.4GW of electricity flow in both directions, contributing to improved energy security, resilience and the integration of renewable energy sources in both countries.
NeuConnect Chief Executive Officer Arnaud Grevoz said: “The signing of the licence agreement with the Crown Estate is another important milestone for NeuConnect and the final piece of the jigsaw in the UK as we get ready to start major construction this summer.
“We are grateful for the support and collaboration with The Crown Estate as we secure this agreement and look forward to working closely with them as we deliver this vital new energy link.”
