• Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups
 

Talk Finance

£$$€№₮IAL €¢¤₦¤MI¢ №€₩$
  • Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups

Talk Finance

  • Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups

In Domestic Affairs

NeuConnect will tie UK and the continental Europe

13th April 2022 Chris Kimble

NeuConnect will tie UK and the continental Europe Pin It

Energy business is booming in Europe: for example, an undersea power cable between the UK and Germany – the first direct energy link between the two countries – is in the pipeline. Works on NeuConnect, as the privately funded project is called, will begin this year. The cable will carry 1.4 gigawatts (GW) of electricity in both directions and will be useful, for example, in case of excess electricity generation, which would otherwise be lost.

The war in Ukraine has made Europe aware of its problematic dependence on Russian energy. Therefore, the continent is experimenting with other means to meet its needs, even if this is a difficult task. With this in mind, contracts worth 1.5 billion pounds (1.8 billion euros) for an undersea power cable project have been signed between the project owners and Siemens, reports the US business medium CNBC.

The project is called NeuConnect, an” invisible energy highway”, as the operators describe it, which can transport 1.4 gigawatts (GW) – almost the equivalent of the power of a new nuclear reactor – in both directions between the UK and Germany.

The line is 725 kilometres long. According to NeuConnect, the project will provide the UK with the opportunity “to make use of Germany’s extensive energy infrastructure, including its significant renewable energy sources”. For Germany “the new connection with Great Britain will help alleviate the current bottlenecks, where wind turbines are often de-energized due to excessive renewable energy production”. Work is expected to begin in 2022.

Although Russia does not export electricity to Germany or the UK, it does export raw materials such as oil, coal, uranium and gas, which are used to generate electricity. Thus, if both countries have access to each other’s electricity (e.g. in case of overproduction), the demand for Russian energy products can already be reduced somewhat.

NeuConnect will be the First Direct Energy connection between the UK and Germany, but not the first in the North Sea. Last year, an electricity cable between Norway and the UK, called North Sea Link, was put into operation. The cable is the same length as NeuConnect: 725 kilometres. This allows the UK to use Norwegian hydroelectricity and Norway to use British wind energy.

Still in the UK, a submarine cable should connect Scotland to the north-east of England. The project is still under development, but is expected to be able to pass an impressive 4 GW of electricity.

Share

No Comments

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Previous Post

Yuan checks all boxes…

In Domestic Affairs

Yuan checks all boxes for the new reserve currency

View Post

Next Post

Tesco promises to 'curb prices'…

In Money Matters

Tesco promises to 'curb prices' as profits triple

View Post

In IT, Innovation and Startups

Guest workers beware: this autonomous robot can pick up to 25,000 raspberries a day

View Post

In Domestic Affairs

EU wants to capitalise on Northern Ireland elections, the UK is planning to counter it

View Post

In Domestic Affairs

Boris Johnson reignites Brexit row as Brussels goes offensive

View Post

Newsletter

Latest News

View

Boris Johnson reignites Brexit row as Brussels goes offensive

16th May 2022

View

Guest workers beware: this autonomous robot can pick up to 25,000 raspberries a day

13th May 2022

View

EU wants to capitalise on Northern Ireland elections, the UK is planning to counter it

11th May 2022

View

G7 countries impose the new sanctions on Russia: ban on rare metals and oil trade

9th May 2022

In IT, Innovation and Startups

CMA investigates P&O/DFDS deal

View Post

In Domestic Affairs

Crisis at P&O Ferries could affect independent UK retailers

View Post

In Domestic Affairs

Authorities seize one of P&O Ferries ships

View Post

UK inflation

In Money Matters

BOE struggles to maintain momentum, stuck between inflation and debt purchases

View Post

Recent Posts

  • Boris Johnson reignites Brexit row as Brussels goes offensive
  • Guest workers beware: this autonomous robot can pick up to 25,000 raspberries a day
  • EU wants to capitalise on Northern Ireland elections, the UK is planning to counter it
  • G7 countries impose the new sanctions on Russia: ban on rare metals and oil trade
  • Oleg Bakhmatyuk is hiding in Austria while UkrLandFarming, VAB Bank go bankrupt

Recent Comments

  • Michael Bazevson on David and Josh Baazov: The Story of King of Poker and Master of Frauds
  • Rob Renton on Ripple (XRP) Price Prediction 2022: bright product with some dark spots on it
  • Mick on Ripple (XRP) Price Prediction 2022: bright product with some dark spots on it
  • MikeBreen on Ripple (XRP) Price Prediction 2022: bright product with some dark spots on it
  • linda on Ripple (XRP) Price Prediction 2022: bright product with some dark spots on it

Archives

  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017

Categories

  • Domestic Affairs
  • Foreign Affairs
  • IT, Innovation and Startups
  • Money Matters

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

Allow us to introduce ourselves

Talk-Finance.co.uk, the analytic media. We are focused on the fresh business, M&A and financial data. We pay attention to the interesting new projects and startups while not letting the whole picture to let unnoticed.

  • Investing.com

Sign Up for Our Newsletter

Our friendly crew

  • Chris Kimble, the managing Editor
  • Matthew Weller, webmaster&technical stuff
  • Charles Sizemore, author
  • David Stevenson, author
  • Helen Rush, author

Contact us by [email protected]

© 2019 Talk Finance - All Rights Reserved. [email protected]