NG announces $2.5B investment in new interconnectors as Nemo Link is launched
United Kingdom: National Grid has announced an investment of over £2 billion ($2.5 billion) in new interconnectors to Europe as it launched together with Elia the £600 million ($751 million) Nemo Link.
Nemo Link, which stretches 129 kilometres (80 miles) from Herdersbrug on the Belgian coast to Richborough in Kent, is a joint venture between National Grid and Belgian transmission system operator Elia. It is the UK’s first subsea power cable to Belgium and will enable the trade of electricity between the UK and Belgium when it becomes operational in early 2019.
“Over the next five years National Grid will be investing more than £2 billion in new interconnectors to Europe and our significant commitment is driven by the value that interconnectors like Nemo Link can bring to customers at both ends of the cable,” said National Grid Chief Executive John Pettigrew.
Source: National Grid