French energy regulator CRE and its Irish Energy Agency CRU said Monday that they are supporting bids for the
Celtic Interconnector submarine power cable project to gain EU support.
According to reports, the 700 MW HVDC submarine cable project, led by French grid operator RTE and Irish grid
operator EirGrid, has a total investment of about 930 million euros. Both energy management regulators hope to
obtain at least 60% financing support from the EU.
At present, the two institutions have agreed that France will bear 65% of the financing needs and Ireland 35% of
the financing needs.
CRE said that the project is the first interconnection project between France and Ireland, in line with the
European single energy market plan. In the context of Britain's withdrawal from Europe, the project will
establish direct electricity links between Ireland and the European internal energy market to improve Ireland's
energy supply.
According to the plan, the project will be put into operation in 2026, extending from the southern coast of
Ireland to Brittany, France. The project has been approved by the relevant executive departments of the European
Union and is regarded as a project of common interest to qualify it for EU support.
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