Undersea In German - NeuConnect - the vital new energy link between Europe's two largest energy markets - has announced the award of key £1.5bn (€1.9bn) contracts, bringing the first direct link between the UK and German energy markets a major step closer. Around 720 km of land and submarine cables form an "invisible highway" that will allow the movement of up to 1.4 GW of electricity in both directions, enough to power up to 1.5 million homes over the life of the project.
NeuConnect is a privately funded interconnector led by global investors Meridiam, Allianz Capital Partners and Kansai Electric Power. Last year, British Prime Minister Boris Johnson and former German Chancellor Angela Merkel outlined their support for the NeuConnect project, with the new UK-German energy link bringing a wide range of benefits, including:
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With key contractors now in place, NeuConnect is on track for financial close in the coming weeks, so work can begin later this year.
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"The need for a more secure and sustainable energy infrastructure has never been greater, so we are delighted to have reached another important milestone in the NeuConnect project, bringing this vital new energy connection an important step closer. The selection of two world-class suppliers gives us tremendous momentum and keeps us on track to to financial close in the coming weeks and the start of major construction work later this year,” said Julia Prescot, chair of the NeuConnect board and co-founder of lead investor Meridiam.
"The announcement of the award of the NeuConnect contract comes just days after the UK Government's UK Energy Strategy set out ambitious targets to build affordable, clean and secure energy. This exciting project shows that Siemens Energy is ready and capable of a zero energy system. This is the UK's energy strategy in action. The electricity link between the UK and Germany will provide greater security of supply and flexibility for both countries. It is a perfect example that we can only achieve the energy transformation by working together. NeuConnect will not only help accelerate the decarbonisation of our energy system, but also will promote sustainability and create hundreds of green jobs in the UK and Germany We are delighted to be part of this world-first project to bring sustainable energy to 1.5 million homes: "Mark Pilling, Vi Co-Chairman of HV Grids, GB&! in of Siemens Energy, he added.
"We are proud to make our best cable technologies available at NeuConnect in this landmark interconnection project that takes a step forward in Europe's energy transformation," commented Hakan Ozmen, Executive Vice President Project Business Unit and CEO of Prysmian Powerlink.
The NeuConnect project is being developed by an international, experienced consortium that includes Meridiam, Allianz Capital Partners on behalf of Allianz Group and Kansai Electric Power, with Greenage Power and Frontier Power also supporting the project as developers.
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The key partners bring proven experience in delivering large energy infrastructure and create a team with significant experience and expertise in interconnection projects.
Lead investor Meridiam takes a long-term approach to its investments, meaning the NeuConnect project will continue to benefit from Meridiam's long-term commitment to invest, develop and manage assets for 25 years and beyond.
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Other uncategorized cookies are those that are analyzed and have not yet been assigned to any category. German Chancellor Olaf Scholz and Norwegian Prime Minister Jonas Gahr Store said on Wednesday that they are negotiating with the head of NATO to discuss the alliance's involvement in the future. Operations to protect critical undersea infrastructure such as gas pipelines or fiber optic cables.
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Store said Norway has already increased the importance of such sites in light of the Russian invasion of Ukraine and even more so after the sabotage of the Nord Stream gas pipelines.
Store visited the German capital on Wednesday for bilateral talks and to attend the Berlin Security Conference with Scholz.
Store visited Berlin on Wednesday for bilateral talks and to attend the Berlin Security Conference with Scholz.
"The chancellor and I agreed to propose an informal initiative to improve the security of undersea infrastructure - it could be pipelines, it could be fiber optics, it could be telecommunications," Store told a Berlin security conference.
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"This is really the lifeblood, the lifeblood of the modern economy. And later today, we'll discuss with the NATO Secretary General: how can we improve military, civilian and police coordination to achieve this? We want it to move forward. NATO." is relevant. How can we work with the private sector? We believe it is right.'
Store also discussed the proposal with Středa, noting that some European partners have already offered closer cooperation with Norway. In 2021, Norway was the second largest supplier of natural gas to the EU after Russia, but Russian gas imports from the 27-nation bloc fell dramatically in 2022 after Moscow invaded Ukraine in February.
"We have 90 rigs on the shelf there and we have about 9,000 kilometers of pipeline. But I can assure you that we are looking at them quite closely and now we are doing it with our allies. So apart from, for example, Germany, the United Kingdom, France, Holland, we are [now] sailing more actively together,” Store said.
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The aim of the proposal for NATO is to explore how to expand existing operations and look at a potential coordination role for the alliance.
NATO Secretary General Jens Stoltenberg traveled to Berlin for the conference and will continue to discuss with Scholz on Thursday. In an email to the Reuters news agency, Stoltenberg said he welcomed the proposal.
"Following the recent sabotage of the Nord Stream pipelines, we have increased our efforts and it is vital that we do even more to ensure that our coastal infrastructure remains safe from future destructive actions," he said.
Russia denies that it was involved in the sabotage of the Nord Stream oil pipelines and tries to blame Britain, which on the other hand says that it was not involved.
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"I am convinced that Russia cannot and will not win this war on the battlefield. Ruthless attacks on critical infrastructure, on water and power lines, on cities and towns, this is both a terrible and desperate strategy of waste." Earth,” Scholz said.
"Russia must realize that we will support Ukraine as long as it is needed," Scholz said, switching the last sentence to English. "Economically, financially, with humanitarian aid, reconstruction of the destroyed energy infrastructure right now, and also with weapons."
Store, meanwhile, told defense analysts and reporters gathered in the German capital that Russia was “losing the ground war and ... striking back with air terror.
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