The European Investment Bank (EIB) is supporting the construction of the first submarine electricity interconnection between Spain and France with €1.6 billion, in a push to improve the reliability of power supply among France, Spain and Portugal and with the rest of Europe.

Delivered by Inelfe, a joint venture between the Spanish transmission system operator (TSO) Red Eléctrica and the French counterpart Réseau de transport d’électricité (RTE), the Bay of Biscay electricity interconnection will have a total route length of 400 kilometers, of which 300 kilometers is underwater, connecting Cubnezais in France and Gatika in Spain.