NIB finances power interconnector between Denmark and UK
The Nordic Investment Bank has signed a ten-year loan agreement with Danish TSO Energinet to co-finance the construction of the Viking Line, a 760km, 1.4GW high voltage direct current electricity interconnector between the substations of Revsing, Denmark, and Bicker Fen in the UK.
The DKK1 billion (€134.4 million) loan will enable the more effective utilisation of renewable energy, access to sustainable electricity generation, and improve the security of electricity supplies. The plan is to install land and submarine cables with a projected capacity of 2 × 700MW between 2020 and 2023. A full commissioning of the interconnector is expected in December 2023. The total project cost for Denmark’s part of the project is estimated to be DKK6.2 billion. Energinet operates, maintains and develops the transmission systems for electricity and natural gas supply in Denmark.
