The €2.8bn NeuConnect power interconnection project between the UK and Germany has reached financial close after it secured funds from a consortium of more than 20 national and international banks and financial institutions including the UK Infrastructure Bank, European Investment Bank (EIB), and Japan Bank for International Cooperation (JBIC). The 1.4 GW project, which will be the first direct link between the UK and German power systems with a length of 725 km, is developed by a consortium of Meridiam (France), Allianz Capital Partners on behalf of Allianz insurance companies (Germany) and Kansai Electric Power (Japan). With a series of major contracts recently awarded, NeuConnect should enter construction in 2022. Commissioning is scheduled for 2028.