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EIB supports first interconnection between Germany and Norway

Staff Writer |
The European Investment Bank (EIB) will provide a EUR 350 million loan to TenneT Holding to finance NordLink, the first interconnection between Germany and Norway across the North Sea.

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The bipolar High Voltage Direct Current (HVDC) link will have a capacity of 1,400 MW and a total route length of 624 km.

It will improve diversification and security of supply and enhancing electricity market integration in both countries, and more widely between Northwest Europe and Scandinavian countries.

It is also designated as a Project of Common Interest in the Priority Corridor Northern Seas Offshore Grid.

The NordLink project will be realised by the Norwegian TSO Statnett and DC Nordseekabel GmbH & Co. KG, each with 50% ownership.

DC Nordseekabel GmbH & Co. KG is equally owned by TenneT and the German promotional bank KfW. DC Nordseekabel is responsible for the construction of the German part of the project, including permits.

With its capacity of 1,400 megawatts, NordLink can provide renewable energy for more than 3.6 million German households and will be able to transport for example wind energy generated by approximately 466 wind turbines of 3 megawatts.

This is comparable to the capacity of a large conventional power plant.


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