National Grid and SP Energy to build £2bn electricity superhighway between England and Scotland
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National Grid and SP Energy have received approval from Ofgem for a £2 billion project to build the 'Eastern Green Link 1' subsea cable, connecting Scotland and England. This 196-kilometer high-voltage cable will enhance electricity transmission between the two regions.
November 15, 2024 | 4:00 pm
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National Grid, in partnership with SP Energy, has received Ofgem's approval for a £2 billion subsea cable project, enhancing electricity transmission between Scotland and England.
The approval of the £2 billion project by Ofgem is a significant development for National Grid, as it enhances their infrastructure and capacity in the UK. This could positively impact their stock price in the short term due to the scale and importance of the project.
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IMPORTANCE 70
RELEVANCE 80