NeuConnect shortlisted for two awards at leading industry event
– Project shortlisted for ‘Deal of the Year, Europe’ and ‘Energy Deal of the Year, Europe’ at Infrastructure Investor Awards 2022
With the £2.4bn/€2.8bn NeuConnect project reaching Financial Close in July 2022, the project has now been shortlisted for two awards – ‘DEAL OF THE YEAR, EUROPE’ and ‘ENERGY DEAL OF THE YEAR, EUROPE’ – at leading industry event the ‘Infrastructure Investor Awards 2022’.
Run by leading industry publication Infrastructure Investor, the awards event is now in its 14th year and brings together global projects across 60 different categories. In shortlisting NeuConnect for two categories, the awards organisers wrote:
“The NeuConnect project is noteworthy for several reasons, not least of all its £2.4 billion price tag. The sub-sea power cable which will span 725km once complete, will link the UK with Germany, allowing 1.4GW of electricity to flow between the two countries. Backed by 21 national and international banks, the project’s financing includes two different currencies (GBP and EUR) and multiple fixed and floating-rate tranches.”
Voting for the awards is now open at www.infrastructureinvestor.com/2022-awards-time-to-vote/. Voting will close on Friday 13th January with the awards winners to be announced in March.
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. The new link will allow 1.4GW of electricity to flow in either direction, helping to boost energy security and resilience while also helping to integrate renewable energy sources in both countries.
NeuConnect’s shortlisting for two awards adds to a year of huge progress across the project, with major contracts awarded in April; the £2.4bn project reaching Financial Close in July; cable production underway in October; and early works starting on site in December. NeuConnect is on track for major construction to start in 2023, with the project due to be operational by 2028.