The European Investment Bank (EIB) will lend €300m ($338m) to Norwegian transmission system operator (TSO) Statnett to finance the 1.4GW “NordLink” interconnection between Germany and Norway across the North Sea.
The 624km link is slated to improve diversification and security of supply and enhance electricity market integration in both countries, and more widely between Northwest Europe and Scandinavian countries.
The deal between EIB and Statnett comes shortly after the first part of the financing for the interconnector was signed with TSO TenneT for the German side of the project.
