Europe | April 7, 2016

EIB to support $1.5B transmission project with $720M funding

$1.5 billion electricity transmission project in Scotland, United Kingdom will be supported by funding from the European Investment Bank (EIB)

 

United Kingdom, Scotland: $1.5 billion electricity transmission project in Scotland, United Kingdom will be supported by funding from the European Investment Bank (EIB)

The European Investment Bank (EIB) will provide $719.70 million in financing to support the development of a high-voltage direct current (HVDC) power transmission link to connect the electricity grid on either side of the Moray Firth in northern Scotland, reports EBR.

Scottish Hydro Electricity (SHE) Transmission is investing more than $1.5 billion (£1.1bn) in the Caithness Moray transmission project, which is expected to supply electricity to meet the needs of around two million Scottish residents.

Source: EBR