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    Reference: 20190520
    Release date: 15 September 2021

    Promoter – Financial Intermediary

    GREENLINK INTERCONNECTOR LTD

    Location

    Description

    A 500MW high voltage direct current (HVDC) subsea electricity interconnector between Ireland and Great Britain. The cable route is approximately 205 km in length between the Pembroke Converter Station and the Great Island Converter Station of which 7 km is onshore in Wales, 170 km is subsea and 28 km is onshore in Ireland.

    Objectives

    The project will allow Ireland to incorporate greater amounts of intermittent renewable generation, supporting both Irish and EU renewable policies. The project is therefore eligible under Article 309 point (c) common interest.

    Sector(s)

    • Energy - Electricity, gas, steam and air conditioning supply

    Proposed EIB finance (Approximate amount)

    EUR 215 million

    Total cost (Approximate amount)

    EUR 600 million

    Environmental aspects

    The environmental impacts are limited as the main structures are situated underground/under sea (cables) and next to existing electricity high voltage substations (converter stations). The cable routing will still limit land/sea use and the construction works are expected to cause disturbance and nuisance in the vicinity. The project does not require a mandatory environmental impact assessment (EIA) under EIA Directive 2011/92/EU (as amended by 2014/52/EU) Annex I. The competent authorities have screened the project in based on national requirements, establishing the need of the environmental and social impact assessment, and the relevant documents have been prepared. The environmental and construction permit (planning permits of the UK and Ireland, including public consultation) have been approved for subsea works and for the land works in the UK. The land and subsea works permit application in Ireland is still under consideration by the relevant authorities. The compliance with the EU legislation, specifically EIA directive and Habitats Directive will be checked during the due diligence.

    Procurement

    The Bank will require the Promoter to ensure that contracts for implementation of the project have been tendered in accordance with the applicable EU procurement legislation for contracts above the threshold: Directive 2014/25/EU as well as Directive 92/13/EEC, as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.

    Status

    Approved - 13/10/2021

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Ireland Energy