At a symposium hosted by the German offshore wind industry group BWO and held in the UK embassy in Berlin, officials of the UK and Germany announced plans to increase their collaboration in offshore wind power production in 2019 and to take the lead in developing hydrogen generation with renewable energy as a major technology for global decarbonization efforts.
There have been additional cooperative projects between Germany and the UK in addition to this one. In order to boost renewable energy policy in the EU and the UK, the European Investment Bank (EIB), along with a group of over 20 international banks, has consented to the funding plan for the first-ever energy link linking Germany and the United Kingdom.
This year will see the commencement of construction on the NeuConnect interconnector, which will link for the first time the two biggest energy markets in Europe. Investors Allianz Capital Partners, Meridiam, and Kansai Electric Power will receive support in this investment worth this €2.8 billion from a consortium of over 20 banks, encompassing the UK Infrastructure Bank, the EIB, and the Japan Bank for International Cooperation (JBIC). The European component’s financing will be provided in part by the EIB, up to €400 million. French investor Meridiam, Allianz Capital Partners as well as Kansai Electric Power, are the consortium’s primary sponsors. Other promotion banks besides the EIB are the Japan Bank for International Cooperation (JBIC) and the UK Infrastructure Bank.
The project is going to be the first interconnection between Germany and the UK, easing power trading between the UK and the European Union and helping to integrate significant amounts of sporadic renewable energy across the North Sea. In 2028, commercial operations are anticipated to begin.
The project involves building a high-voltage DC (direct current) link over German, Dutch, and British waterways to connect England and Germany. The DC voltage for the facility will be 525 kV, with a capacity that is rated 1,400 MW. A grid interface and converter station in Germany will be connected to Tennet’s electricity network close to Fedderwarden by the primarily subsea cable, which is going to have a route having 725 km in terms of route length. A converter station as well as grid interface in the UK will be connected to the National Grid ESO network via the Isle of Grain.
The project is an illustration of how the European Union (EU) and the United Kingdom can work together for the benefit of both parties while also achieving environmental advantages internationally. The converter stations will be built by Siemens, who has been given the contract; Prysmian will make and install the cable. Both companies might be regarded as industry leaders in these fields.
In accordance with the local wind strength, the interconnector will help ensure greater utilization of offshore wind resources along the coasts, thereby assisting EU as well as German renewable energy policies. By reducing CO2 emissions, the project will help Europe reach its goal of at least a 55 percent cut in greenhouse gas emissions by 2030.