TenneT has given the green light to its participation in the construction of the NordLink cable from Germany to Norway.
The power cable, which largely runs across the seabed (516 km subsea cable), has a capacity of 1,400 MW, the equivalent of 466 wind turbines of 3 MW, 580,000 solar panels or a very large conventional power plant.
Mel Kroon , TenneT CEO, said: “Together with our partners Statnett and KfW, we will create the first direct connection between Germany and Norway by building the NordLink cable, which will supply renewable energy to 3.6 million households. This connection has it all: It enables the highly efficient exchange of renewable energy between Germany (wind energy) and Norway (hydropower), has a positive impact on energy prices, and furthers the integration of the European electricity market.”
The company said that all necessary internal processes, including approval by TenneT’s shareholder, have led to a positive outcome. A formal final investment decision by the three partners (Statnett, TenneT and KfW) is expected to be taken in the first quarter of 2015, after negotiations with contractors are completed.
The NordLink project is an initiative of DC Nordseekabel GmbH & Co.KG and Norwegian TSO Statnett, who both have a share of 50%. TenneT and KfW both have share of 50% in DC Nordseekabel. DC Nordseekabel is responsible for the project management of the German part of the project, including permits.