Work begins on £2.5bn Eastern Green Link 1 subsea electric superhighway [Yahoo! Finance]
IBERDROLA SA S/ADR (IBDRY)
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Source: Yahoo! Finance
Power Technology · Iberdrola GlobalData Fri, February 14, 2025 at 4:20 PM GMT+1 2 min read In This Article IBE.MC Iberdrola has announced the start of construction on the Eastern Green Link 1 subsea electricity superhighway project between Scotland and England. The £2.5bn ($3.1bn) project is a joint venture between ScottishPower (SP) Energy Networks, a subsidiary of Iberdrola, and National Grid Electricity Transmission (NGET). The 190km subsea cable connects the southeast of Scotland with the northeast of England to transport green electricity sufficient for two million homes. The initiative, approved by British energy regulator Ofgem in 2024, has initiated onshore works, with offshore construction expected to begin in the summer of 2025. Minister for Housing and Member of the Scottish Parliament for East Lothian Paul McLennan stated: "As a key energy hub, East Lothian is at the heart of Scotland's renewable growth, driving economic opportunities for both the
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