Baltic Cable AB and Equitix have signed an agreement with Partners Group, acting on behalf of its clients, to acquire Greenlink Interconnector (Greenlink). Greenlink connects Ireland with the wider European transmission network, further integrating European energy markets and facilitating decarbonization.
Greenlink is a regulated and certified Transmission System Operator (TSO) which owns the high-voltage direct current (HVDC) submarine power cable that connects County Wexford in Ireland with Pembrokeshire in Wales. It spans approximately 190 km and has a nominal capacity of 504 MW.
In acquiring Greenlink, Baltic Cable AB partners with Equitix, an investor in offshore transmission for over 12 years. Developer and seller in the transaction is Partners Group, who started the first survey for the project already in 2018. Final commissioning of the Greenlink interconnector is scheduled in the course of 2025.
“This is one important step in providing additional connecting capacity to increase the integration of the trans-European energy market. Investing in Greenlink is well in line with Baltic Cable’s strategy of leveraging our knowledge and experience as an interconnector TSO to further support the clean energy transition and a more resilient energy system in Europe.”, says Kajsa Hedberg, CEO at Baltic Cable AB.
The role of interconnectors is of great strategic importance for the electricity market of Europe, not least emphasized by the EU Commission in the newly adopted Affordable Energy Action Plan. In this forward looking strategic document, the EU Commission is yet again stressing the multifaceted and crucial contribution by interconnectors for achieving the goals of decarbonization, energy security of supply and competitiveness.
Baltic Cable AB owns and operates the Baltic Cable interconnector between Sweden and Germany for over 30 years. Baltic Cable AB is a certified Independent Transmission Operator (TSO) in Germany, promoting European market integration through providing valuable capacity to the market. Baltic Cable AB stands for fair, transparent and non-discriminatory market functioning.
For more information contact:
Annika Kleine, Legal & Regulatory Director, Baltic Cable AB
Email: annika.kleine@balticcable.com
