NeuConnect has signed a license agreement with The UK’s Crown Estate, allowing the start of construction of the 1.4 GW NeuConnect power interconnection project, which will link the United Kingdom and Germany. The subsea interconnector will span 725 km and connect the Isle of Grain in Kent (UK) to the Wilhelmshaven region in northern Germany. It will allow electricity to flow in both directions.
The £2.4bn (€2.8bn) project is led by the investors Meridiam, Allianz Capital Partners, Kansai Electric Power and TEPCO. In July 2022, NeuConnect reached financial close on the project with a consortium of more than 20 national and international banks and financial institutions. The project is due to start major construction work both onshore and offshore at the Isle of Grain site in the coming weeks, with major construction in Germany starting in early 2024. It will become one of the world’s largest interconnectors once operational in 2028.