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#JunckerPlan supports #Nordlink interconnector with €100 million #EIB investment

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The European Investment Bank (EIB) has signed a €100 million financing agreement with TenneT, a leading European electricity transmission system operator, to support the construction of an electricity interconnector between Norway and Germany. The transaction is backed by the Juncker Plan's European Fund for Strategic Investments (EFSI). The interconnector will span 624 kilometres, linking Norway and Germany across the North Sea. It will have a capacity of 1,400 megawatts, significantly improving the diversification and security of supply whilst enhancing electricity market integration in both countries. Energy Union Vice President Maroš Šefčovič said: "We need forward-looking investments into modern energy infrastructure with adequate interconnections, in particular to integrate renewables into the grid. It is a vital element of our energy security as well as our climate action. This smart combination of renewable power generation – solar and wind in Germany and hydroelectric in Norway – underlines our firm commitment to bring clean power to millions of people." A press release can be found here. 

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