Financial close achieved for 500 MW Interconnector transmission project
Greenlink Interconnector Limited (GIL) has announced a financial close for the 500 MW Greenlink interconnector project that will connect the power grids of Ireland and Great Britain. The project is the first privately-financed interconnector in Europe supported under the Cap and Floor regulatory regimes in the UK and Ireland.
Partners Group, which owns Greenlink on behalf of its clients, has secured debt financing for the project with a consortium of banks to fund construction.
The Greenlink project comprises a 190km subsea high-voltage direct current (HVDC) cable system, two converter stations, a tail station at Great Island in Wexford, Ireland, and onshore cable works in Wexford and Pembrokeshire, Wales. The project has the capacity to power around 380,000 homes. As well as providing downward pressure on wholesale energy prices, the new grid connection will provide greater security of supply for electricity consumers.
The EUR500 million (US$585.7 million) project is expected to be commissioned at the end of 2024.
Country news
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