EnergyWatch

EIB provides loan for Nordic interconnector

The NordLink interconnector between Norway and Germany has just received further funding from the European Investment Bank, which has provided a EUR 100 million loan. Sector lobby group Danish Energy remains skeptical of the whole project.

Photo: Scira

European Investment Bank (EIB) has approved a EUR 100 million loan for the subsea cable NordLink, EIB announces in a press release.

The interconnector is developed and owned by Statnett and the company DC Nordseekabel, which is owned by TenneT and German bank KfW. The purpose of the 624 kilometers long interconnector is to connect the two countries with a capacity of 1400 MW, which will ensure supply security as well as improve the integrated energy market in the two countries.

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