France-Ireland's first submarine power cable project applies for EU support

[Cable News] French energy regulator CRE and its Irish Energy Agency CRU said on Monday that they are supporting the bidding of the Celtic Interconnector submarine power cable project to obtain EU support.

According to reports, the 700 MW high-voltage DC submarine cable project led by French grid operator RTE and Irish grid operator EirGrid has a total investment of about 930 million euros. The energy management regulators of both sides hope to obtain at least 60% financing support from the EU.
Currently, both institutions have agreed that France will assume 65% of financing needs and Ireland will assume 35% of financing needs.
According to CRE, the project is the first grid interconnection project between France and Ireland, in line with the European single energy market plan. In the context of Brexit, the project will establish direct electricity links between Ireland and Europe's internal energy markets to improve Ireland's energy supply.
According to the plan, the project will be put into operation in 2026, extending from the southern coast of Ireland to Brittany, France. The project is currently approved by the relevant EU enforcement authorities and is considered a common interest project to qualify for EU support.
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