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French & Irish regulators back EU grants for Celtic undersea power cable

Power News - Published on Wed, 08 May 2019

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French energy regulator CRE and its Irish counterpart CRU said that they are backing a bid by the Celtic Interconnector undersea power cable project to get at least 60% of its 9UR 30 million investment from European Union grants. The regulators said that in the context of Britain's exit from the European Union, the project will establish a direct power link between Ireland and the European internal energy market. It would also improve Ireland's security of supply.

The regulators said they have agreed that 65% of the project's estimated investment costs will be allocated to Ireland and 35% to France.

The 700 MW high-voltage power cable project, led by French power grid operator RTE and Ireland's EirGrid, will be the first interconnector linking Ireland to France. The Celtic Interconnector, set to run from the southern Irish coast to Brittany in France from 2026, was declared a common interest project by the European Union's executive arm, making it eligible for grants from the bloc.

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Posted By : Mohan Sharma on Wed, 08 May 2019
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