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National Grid in US$1.3B undersea project

National Grid is planning to lay three sub-sea power cables costing US$1.3B to link the UK power grid with Europe. Although planning is still at an early stage, National Grid is expected to approve the first project this summer.

The first cable, a 700km link, would join the UK with Norway under the North Sea. National Grid has already signed a development agreement with Norway’s nationalised distribution company, Statnett, to build the 1000MW cable in a joint venture, at a cost of US$570.6M. Some 98% of Norway’s power comes from hydroelectric sources. National Grid is also in talks with the Dutch transmission company TenneT, about a similar project.

The third link would join up with Ireland, by laying a cable costing US$356.6M, between Wales and the Republic.