Norwegian energy distributor Statnett and UK's National Grid have reached an agreement to construct an interconnector between UK and Norway. The 1400 MW subsea electricity cable will connect the two countries' electricity markets directly for the first time. Statnett and National Grid this week signed the ownership agreement which signals the start of the construction phase for the 730 kilometre interconnector between UK and Norway.
The NSN Link would be the first electricity interconnector between the two countries and has a planned capacity of 1400 MW. It will be the world's longest sub-sea power cable.
Auke Lont, Statnett CEO said: “We are proud to be part of this project. Not only is this a technically impressive project where we will set a new world record, it is also an important contribution to facilitate renewable energy production on both sides, and thereby an essential part of the future electricity system. In addition it will contribute to security of supply and value creation for both Norway and the UK”
Alan Foster, director of European Business Development for National Grid said: “Access to low-carbon energy from Norway hydro power stations will help us meet the challenge of greener, affordable energy. It also adds to the diversity of energy sources for UK and potentially can reduce peak prices with benefits for consumers and businesses”
The interconnector would run from Blyth in Northumberland to Kvilldal in Rogaland on the Norwegian side. There will be a converter station on each side where the interconnector is connected to the on-shore grid. The project is estimated to cost around €1.5 to 2 billion to be shared jointly. The interconnector is planned to be completed by 2021.
The ownership agreement was signed at the British Embassy in Oslo Thursday afternoon.
Norway's energy provider Statoil and UK's National Grid have