2017-10-19
http://w3.windfair.net/wind-energy/pr/24399-norway-uk-scotland-interconnector-eu-funding-finances

Europe multi million cash boost to Scotland – Norway electricity connection

EU agrees €10mn finance to support development of strategic North Sea interconnector

Image: NorthConnectImage: NorthConnect

Plans for an electricity superhighway between Scotland and Norway got the backing of the European Union February 2017, with an agreement to part fund the development phase of the 650km interconnector.

Following the positive decision, NorthConnect, a power interconnector project between Scotland’s Aberdeenshire coast and the west coast of Norway is eligible to receive over 10 million Euros to support development of the project. The money comes from the Connecting Europe Facility, the EU's funding support programme for infrastructure.

Richard Blanchfield, NorthConnect’s Deputy Project Manager, said: “The decision demonstrates that the European Union considers the NorthConnect Project important to achieving the strategic goals of increasing security of energy supply, and contributing to sustainable development by integrating renewable energy sources across the European Union.”

Tommy Løvstad, NorthConnect’s CEO and Project Manager, said: “This is a huge milestone for the project, everyone on the team is very pleased. We look forward to further co-operation with INEA and the Connecting Europe Facility. Being selected to receive funding from the EU is a very positive boost to the project’s momentum, and will give the project owners important support in the challenging development environment.”

On Friday 17th February 2017, the EU’s INEA, Innovation and Networks Executive Agency, published its list of energy infrastructure projects that have been selected to receive financial support from the European Union. NorthConnect received confirmation of the level of funding the following week..  

NorthConnect is designated as a Project of Common Interest, making it eligible to apply for funding from the Connecting Europe Facility.

The project is due to start construction in 2019, and programmed to reach completion in 2022. 

Source:
NorthConnect
Author:
NorthConnect Press Office
Link:
northconnect.no
Keywords:
Norway, UK, Scotland, interconnector, EU, funding, finances





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