Partners Group invests in Greenlink

Laxman Pai
Wednesday, March 13, 2019

Private markets investor Partners Group has provided equity financing for the 500-MW Greenlink interconnector,  the subsea connection between Wales and Ireland in exchange for a stake in the scheme.

To-date, Greenlink has been developed by Element Power, an independent renewable energy developer, which, together with funds managed by Hudson Sustainable Investments, is the other major shareholder in Greenlink.

Greenlink will use a subsea high-voltage direct current (HVDC) cable system to connect the power markets of Ireland and Great Britain, improving the security of electricity supply in both countries and reducing average electricity costs for consumers. It will stretch approximately 200km underground and under the sea between County Wexford in Ireland and Pembrokeshire in Wales.

The project is considered of critical importance in Europe and has been awarded "Project of Common Interest" status by the European Commission as well as granted funding from the EU's Innovation and Networks Executive Agency. Construction is scheduled to commence in 2020 and is expected to be completed by 2023.

Esther Peiner, Managing Director, Private Infrastructure Europe, Partners Group, stated: "Greenlink Interconnector is a key electricity infrastructure project for Ireland and Great Britain. With the build-out of renewable energy generation in both countries, particularly the growth of offshore wind, infrastructure like Greenlink is essential to facilitate the low carbon economy as it will allow surplus renewable power to be exported between the two countries."

Esther added: "Once completed, this interconnector will not only benefit consumers in Great Britain and Ireland, but will also enhance security of supply."

Categories: Offshore Energy Renewable Energy Subsea Survey

Related Stories

PXGEO Nets First Seismic Survey off Malaysia

SPE Offshore Europe 2025 set to drive transformational change for the energy sector

Shipbuilder Delivers Fast Crew Boat Pair to Aesen

Shelf Drilling Lands New Jack-Up Contract in Vietnam, Extends Egypt Deal

Inpex Kicks Off FEED Work for Abadi LNG Scheme Offshore Indonesia

BP, ONGC, Reliance Industries Ink Deal for Offshore Exploration in India

Dutch Contractor Completes Malaysia’s Largest 'Rig-to-Reef' Decom Project

China Rolls Out 17MW Floating Wind Turbine Prototype

Fugro Expands Geotechnical Testing Capabilities in Indonesia

Shell-Reliance-ONGC JV Complete India’s First Offshore Decom Project

Current News

PXGEO Nets First Seismic Survey off Malaysia

SPE Offshore Europe 2025 set to drive transformational change for the energy sector

Shipbuilder Delivers Fast Crew Boat Pair to Aesen

Norwegian Oil Investment Will Peak in '25

Saipem Marks First Steel Cut for Tangguh UCC Project at Karimun Yard

Saipem Wins FEED Contract For Abadi LNG Project FPSO Module In Indonesia

Cheniere, JERA Ink Long-Term LNG Sale and Purchase Agreement

Shelf Drilling Lands New Jack-Up Contract in Vietnam, Extends Egypt Deal

Seatrium Engages Axess Group to Clear FPSOs for Brazil Deployment

Inpex Picks FEED Contractors for Abadi LNG Onshore Plant

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com