The loan will cover roughly 50% of the cost of the project, which is a joint venture between National Grid and TenneT, the respective operators of the British and Dutch grids.
In September the EIB uncorked another €300m loan for an interconnector running between Ireland and Wales.
BritNed’s high-voltage direct current (HVDC) cables will run 256km between Rotterdam and the UK’s Isle of Grain, with a capacity of 1 gigawatt.
