NeuConnect has started construction of the 1.4 GW NeuConnect project, the first-ever interconnection link between 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.
Earlier in July 2023, NeuConnect signed a license agreement with the UK’s Crown Estate, allowing the start of construction of the project. NeuConnect had reached financial close on the project with a consortium of more than 20 national and international banks and financial institutions in July 2022. Major construction will start in Germany in early 2024. The project will become one of the world’s largest interconnectors once operational in 2028.