UK and Germany support the 1.4 GW NeuConnect interconnection project

• A significant reduction in CO2, supporting net-zero goals – By integrating renewable energy sources in Germany and the UK, NeuConnect will deliver a net reduction in carbon emissions of 16 MtCO2 over 25 years 
• Greater energy security and huge consumer benefits – Over 700km of subsea cables will form an ‘invisible highway’ to allow 1.4GW of electricity to flow in either direction, helping to deliver a more resilient energy supply in the UK and Germany; supporting each country’s renewable energy growth ambitions, and delivering over GBP3 billion (US$4153.49 billion) of consumer benefits
• The single-largest Anglo-German investment project and an important symbolic link – Along with creating an important new piece of energy infrastructure, NeuConnect is currently the single largest Anglo-German investment project and will represent an important symbolic link between the British and German economies

NeuConnect’s investors have confirmed their renewed commitment to delivering the project following a period of significant progress and key milestones including:

• New energy legislation passed in Germany under which NeuConnect will operate
• NeuConnect’s updated UK interconnector license confirmed by the energy regulator Ofgem
• A major GBP1 billion (US$1384.5) procurement program nearing completion
• NeuConnect targeting financial close in September which would allow initial works to begin later this year followed by major construction works starting in 2022