Further award win for NeuConnect as project is named ‘Power Deal of the Year’
NeuConnect – a vital new energy link between the UK and Germany – has been named “Power Deal of the Year – Transmission” by leading industry publication IJ Global in its annual awards. The award follows the £2.4bn / €2.8bn NeuConnect project reaching financial close in summer 2022 with a consortium of more than 20 national and international banks and financial institutions.
Led by global investors Meridiam, Allianz Capital Partners, Kansai Electric Power and TEPCO, NeuConnect will become one of the world’s largest interconnectors with 725km of land and subsea cables forming an ‘invisible energy highway’ between the UK and Germany, connecting two of Europe’s largest energy markets for the first time.
In naming NeuConnect as “Power Deal of the Year – Transmission”, the IJ Global Awards 2022 described NeuConnect as:
“An impressive deal on many levels, not just as the first direct link between UK and Germany’s electricity grids. The NeuConnect Interconnector reached financial close in July 2022, and it is given credit as a deal supporting post-Brexit cooperation on energy policies.”
Earlier this year, NeuConnect was also named “Power Deal of the Year” by industry publication Project Finance International (PFI) in its annual awards. The industry recognition follows a period of strong progress since the project reached financial close – since that point, cable production work began in September 2022 and early works started on site in Germany in October 2022, followed by the UK in December 2022, keeping NeuConnect on track for major construction to start this year. The project is due to be operational by 2028.
For further information on NeuConnect, please visit neuconnect-interconnector.com.