Network operators TenneT and Statnett, along with finance group KfW, signed ownership agreements for the project today. It is expected to require a total investment of about €1.5bn-€2bn ($2bn-$2.7bn).
The HVDC cable link is described as a “cornerstone” for Germany’s Energiewende – its shift towards renewable energy.
Norway and Germany are foreseen exchanging wind and hydropower via Nordlink, which aims to be operating by the end of 2018.
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