The European energy market is at a crossroads, navigating and balancing geopolitical uncertainty, technological progress, and increasing sustainability demands. This requires a true energy union. For that, we need an accelerated development of the electricity grid and cross-border capacity, the backbone of the European electricity system. If action is not taken, 45 percent of missing cross-border capacity, equalling 41 GW, will remain unaddressed by 2030. Interconnector Transmission System Operators (TSOs), such as Baltic Cable, can play an important role in closing this gap.
2025 was a transformative year for our company. Looking back at my first year as CEO for Baltic Cable, I have certainly learned a lot and want to share three highlights.
First and foremost; completing the Greenlink Interconnector investment and transaction. This truly marked a milestone in achieving our strategic objectives, but it also showed what complex tasks our team, partners and stakeholders can achieve together. Through Greenlink, Ireland now has access to more renewable energy for its energy security of supply, competitiveness and green transition. This investment shows that interconnector TSOs have the possibility to play an important role in contributing to a more interconnected European electricity grid.
Secondly, as we have grown rapidly in recent years, our focus has been on more than just reaching our strategic objectives. To meet the sector’s rising demands, we have built a solid foundation for long-term planning and invested in resilience in both our organization and our assets. At the same time, we prioritize our company’s familiarity and have continued to nurture our culture that values every individual and builds on what makes us unique. The progress we made this year reflects the dedication, expertise and talent of our team.
Finally, we have seen an increased recognition of interconnections across our industry. Recently published EU documents like the European Grids Package identify interconnectors as critical for achieving the true energy union. This recognition is important, but now action must follow; legislative changes and regulatory adjustments that acknowledge interconnector TSOs are crucial to speed up cross border grid development. This requires alignment between national regulatory authorities as well as eased administrative burdens, both in energy and financial legislation. This is key to de-risk projects, and facilitate more investments, especially from private parties.
I would like to end this letter by saying that I am proud of our achievements, that we managed to navigate several challenges, while strengthening our ability to contribute to what matters most: a resilient and interconnected European electricity market.
Thank you for your continued trust and collaboration – I am excited for what we will achieve in the coming year.
Warm regards and happy holidays,
Kajsa Hedberg, CEO of Baltic Cable
