Key milestone for NeuConnect as German Government passes new energy laws
The NeuConnect project reached another important milestone today with new energy legislation passed in Germany under which NeuConnect will operate. The new laws have now been approved by the German Bundestag and Bundesrat and clear the way for the construction and operation of independent cross-border interconnectors like NeuConnect.
NeuConnect is a privately-financed £1.4bn interconnector that will create the first direct link between UK and German electricity networks. By connecting two of Europe’s largest energy markets for the first time and integrating renewable energy sources in Germany and the UK, NeuConnect will allow 1.4GW of electricity to flow in either direction, helping deliver a more diverse, resilient and sustainable electricity supply, while also helping to lower costs for consumers.
NeuConnect CEO Christophe Vanhove: “The new energy legislation in Germany is a crucial milestone for the NeuConnect project and brings the first direct link between the UK and German energy markets an important step closer.”
NeuConnect is being developed by an international, experienced consortium that includes Meridiam, Allianz Capital Partners on behalf of Allianz Group and Kansai Electric Power, with the project also supported by Greenage Power and Frontier Power as developers. The key partners bring a proven track record in delivering large-scale energy infrastructure.