August 26, 2012 — Following three years of joint feasibility and development work, Statnett and National Grid International have signed an agreement to confirm their intention to continue work to facilitate an investment decision for the construction of a submarine interconnector between Norway and the U.K.
The two parties are currently performing a joint seabed survey along the planned route and will now focus on obtaining the necessary regulatory and environmental agreements and concessions as well as preparing for the procurement of some 700 km of cable and two converter stations.
A key milestone will be the submittal of the Norwegian Trade Concession Application to the Norwegian Ministry in the first half of 2013. The interconnector will contribute to further integration of the North-European power markets and strengthen the North-European power grid, hence buoying the ambitions for increased renewable energy production in the whole region and thereby supporting the E.U.'s 2020 goals.
The interconnector between the U.K. and Norway, with a planned capacity of up to 1,400 MW, is expected to be complete by 2020.