MoU signed for 5,000MW electricity transmission system
A Memorandum of Understanding (MoU) has been signed to complete a pre-feasibility study for the development, financing, construction and operation of a 5,000MW electricity transmission system that will export large-scale wind-generated renewable energy to the UK from Ireland.
The companies involved are National Grid, Redes Energéticas Nacionais (Portugal’s Transmission and System Operator Concessionaire working in association with the State Grid Company of China), as well as global wind and solar developer Mainstream Renewable Power, which is leading the project.
Mainstream Renewable Power is a developer of renewable energy projects. It has a development pipeline of over 15GW globally including just under 8GW of offshore development assets in the North Sea and 4.45GW of secured grid connection for these offshore projects. It launched Energy Bridge in June 2012 and has already secured an offer for 5,000MW of grid connection to the UK. The company is currently engaging with landowners in Ireland to secure the land required to start constructing the first 1,200MW phase of the project with the aim of supplying this 1.2GW of energy to the UK by 2017.
Commenting on the MoU, Mainstream’s Chief Executive Eddie O’Connor (pictured) said: “This is a major milestone in our plan to start delivering renewable energy to the UK. I am delighted to be working with such recognised world leaders in electricity transmission systems. We are now putting a team of experts together in order to conduct comprehensive feasibility studies and a business plan. This will be the precursor to the companies forming a joint venture to develop, build, finance, own and operate the system. This has never been done anywhere in the world and Mainstream is very excited to be leading such a ground breaking project.”
Steve Holliday, Chief Executive of National Grid, added: “We are looking forward to working with our partners on this strategic project. With our core skills in developing, owning and operating energy networks and our knowledge of new technologies – including interconnector projects – we are always looking at opportunities like this that can really use our expertise. This has the makings of a really exciting project that can connect consumers and businesses to lots of renewable energy.”
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