Abdul Latif Jameel revives sale of FRV - report
Nov 12, 2024 17:03 CESTUK energy regulator Ofgem today announced approval for five new subsea power links, three interconnectors and Great Britain’s first two offshore hybrid assets, which will together increase Great Britain’s energy export and import capacity by over 6 GW.
The three interconnectors approved for Ofgem’s cap and floor regime, which provides developers with a minimum return and a limit on the potential upside for a 25-year period, are detailed in the table below.
Tarchon Energy Interconnector | 1.4 GW | Between East Anglia and Niederlangen, Germany | 610 km |
Mares Connect | 0.75 GW | Between Bodelwyddan, North Wales and Ireland | 190 km |
LirIC | 0.7 GW | Between Kilroot, Northern Ireland and Hunterston in Ayrshire, Scotland | 142 km |
In addition, two projects have been greenlit under a pilot cap and floor scheme for offshore hybrid assets. The 1.8-GW LionLink, which will connect Dutch offshore wind farms to the British grid with an onshore landing point in Suffolk, and the 1.4-GW Nautilus, which will connect Belgium offshore wind farms to the British grid at the Isle of Grain in Kent.
“With Britain expected to become a net energy exporter in the 2030s, these connections will equip us with world leading technology to export more of our surplus clean power overseas. They will also provide greater access to energy imports, which together with domestic low carbon energy sources such as nuclear and biomass, will provide vital back-up energy sources when renewable generation is more limited here," said Akshay Kaul, director general for infrastructure at Ofgem.
The new projects are all expected to be up and running by the end of 2032. By that year Great Britain could have 18 interconnectors in operation, representing over 18 GW of capacity if all Ofgem-approved projects are delivered on schedule.
Energy Minister Michael Shanks said interconnectors are important international links enabling the transportation of power to and from allies.
“These five projects will expand Britain’s interconnector capacity by 6 GW, creating links to export our own clean electricity at times of high generation, and import low-cost power from our neighbours when needed.
“Our mission to make Britain a clean energy superpower requires us to make a once in a generation upgrade of Britain’s energy infrastructure – which will include rolling out more interconnector projects in the future, bringing skilled jobs and investment to communities across the country,” he added.
Ofgem’s decision on the interconnectors and its decision on the hybrid pilot projects can be viewed on its website.
Abdul Latif Jameel revives sale of FRV - report
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