Partners Group has become a 100% shareholder in the Greenlink electricity interconnector between Ireland and Great Britain.
Partners Group has acquired a 51% stake in Greenlink from Element Power, meaning that it now entirely owns the interconnector on behalf of its clients.
Greenlink will use a subsea high-voltage direct current (HVDC) cable system to connect the power markets of Ireland and Great Britain, improving the security of electricity supply in both countries and reducing average electricity costs for consumers.
It will stretch approximately 190 kilometers underground and under the sea between County Wexford in Ireland and Pembrokeshire in Wales.
Onshore and offshore planning consents have been secured for the project in Wales and Greenlink is on track to start construction before the end of the year.
“Greenlink is a perfect fit for Partners Group’s investment strategy of supporting the energy transition,” said Shreya Malik , senior vice president of Partners Group (UK) and director of Greenlink.
“Regulatory support from both the CRU and Ofgem reflects the strategic importance of Greenlink for Irish and UK energy security and achieving both governments’ net zero ambitions in an affordable way.”