The EU has agreed a funding package for a 650 km electricity link between Scotland and Norway.
The NorthConnect project is a joint venture between Vattenfall and three Norwegian firms – E-Co Energi, Agder Energi and Lyse – and will facilitate energy trading between the UK, Norway and continental Europe.
The EU has agreed funds of €10 million to support the development phase of the project. The funds will be derived from the Connecting Europe Facility.
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.”
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.