Signature(s)
Summary sheet
BritNed Development Ltd.
(a joint venture between:
National Grid Plc, UK, and
TenneT Holding BV, NL)
The Project concerns the design, construction and operation of a submarine HVDC cable link across the North Sea between The Netherlands and Great Britain.
The Project will enable the trade of electricity between The Netherlands and the UK by taking advantage of differences in the price profiles in the two markets, and would thereby contribute to the deepening of the EU internal market in electricity, increase market liquidity and decrease price volatility. Moreover, the Project is expected to offer increased security of supply to the UK power system at competitive cost.
Both the British and Dutch sides of the Project underwent environmental analysis, including appropriate biodiversity assessment, and received environmental and administrative approvals from the respective national authorities.
The Promoter is subject to the UK public procurement legislation which complies with the requirements of the EU Directives on public procurement. The principal EPC contracts for cable manufacture & installation and converter stations were let separately in 2007 following publications in the EU Official Journal and competitive tendering. Overall the procurement procedures followed appear acceptable and in the interest of the Project.