Britain Bets Big on Subsea Links to Fuel Europe’s Energy Future

(Bloomberg) —

Energy regulator Ofgem approved five new subsea power links from Great Britain to the continent and Ireland as the country seeks to profit from a boom in wind capacity and become a net electricity exporter by the end of the decade. 

The plans include as much as 4.6 gigawatts of new connections to Belgium, the Netherlands and Germany under the North Sea and about 1.5 gigawatts of connections to Ireland and Northern Ireland, the watchdog said in a statement. The nation is currently importing power from France on most days to help meet demand. 

Along with a significant increase in offshore wind capacity, interconnectors are a key piece of Britain’s plans to reach a clean power grid by 2030. To meet that goal, UK’s grid operator has forecast that capacity on such cables would need to increase by 50% by the end of the decade. 

“As we shift to a clean power system more reliant on intermittent wind and solar energy, these new connections will help harness the vast potential of the North Sea and play a key role in making our energy supply cheaper and less reliant on volatile foreign gas markets,” said Akshay Kaul, director general for infrastructure at Ofgem.

Among the five projects are two that are known as offshore hybrid assets, which link a wind farm at sea directly into an interconnector. That would allow the park to send power to the market with the highest price, rather than first sending it to the country’s grid only to be exported later. 

The two hybrid projects are being developed by National Grid Plc together with operators in Belgium and the Netherlands, where the projects will link. 

“Consumer demand for electricity is set to double in the next 25 years, and if built these interconnectors would provide the invaluable flexibility we need in the system for both now and in 2050,” said Ben Wilson, president of National Grid Ventures.

© 2024 Bloomberg L.P.

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