The UK energy regulator, Ofgem, has approved a £2 billion funding package for the construction of Eastern Green Link 1, a high-voltage electricity “superhighway” beneath the North Sea, Bloomberg reports.
This ambitious project will transport renewable energy generated by offshore wind farms in Scotland to northern England, potentially powering up to 2 million homes.
The 122-mile subsea cable network, a joint venture between SP Energy Networks and National Grid Electricity Transmission, is a crucial component of the UK’s plan to drastically increase its offshore wind capacity and achieve net-zero emissions from electricity generation by 2030. While constructing wind farms is vital, Ofgem emphasizes the equal importance of upgrading grid infrastructure to ensure clean energy reaches consumers efficiently.
This project is part of Ofgem’s wider initiative to accelerate investment in the nation’s power network. The regulator estimates that Eastern Green Link 1 could save consumers £870 million annually. This cost saving stems from reduced reliance on curtailment – the practice of asking wind generators to reduce or halt production due to insufficient grid capacity during periods of high wind. Curtailment currently leads to wasted energy and added costs for consumers.
