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French energy regulator CRE and its Irish energy authority, CRU, said on Monday they were supporting a tender for the Celtic Interconnector submarine power cable project to secure EU support
.
According to reports, the 700 MW high-voltage DC submarine cable project led by French grid operator RTE and Irish grid operator EirGrid has a total investment of about 930 million euros, and the energy management regulators of the two sides hope to obtain at least 60% of the EU's financing support
.
At present, the two institutions have agreed that France will bear 65% of the financing needs and Ireland will bear 35% of the financing needs
.
CRE said the project is the first grid interconnection project between France and Ireland, in line with the European Single Energy Market plan
.
In the context of Brexit, the project will establish a direct electricity link between Ireland and the internal European energy market, improving Ireland's
energy supply.
According to the plan, the project will start production in 2026, extending from the southern coast of Ireland to Brittany, France
.
The project has currently been approved by the relevant EU executive authorities as a project of common interest, making it eligible for EU support
.
French energy regulator CRE and its Irish energy authority, CRU, said on Monday they were supporting a tender for the Celtic Interconnector submarine power cable project to secure EU support
.
According to reports, the 700 MW high-voltage DC submarine cable project led by French grid operator RTE and Irish grid operator EirGrid has a total investment of about 930 million euros, and the energy management regulators of the two sides hope to obtain at least 60% of the EU's financing support
.
At present, the two institutions have agreed that France will bear 65% of the financing needs and Ireland will bear 35% of the financing needs
.
CRE said the project is the first grid interconnection project between France and Ireland, in line with the European Single Energy Market plan
.
In the context of Brexit, the project will establish a direct electricity link between Ireland and the internal European energy market, improving Ireland's
energy supply.
According to the plan, the project will start production in 2026, extending from the southern coast of Ireland to Brittany, France
.
The project has currently been approved by the relevant EU executive authorities as a project of common interest, making it eligible for EU support
.
