National Grid signs contracts for electricity transmission project in UK [Yahoo! Finance]
National Grid Transco, PLC National Grid PLC (NEW) American Depositary Shares (NGG)
US:NYSE Investor Relations:
investors.nationalgrid.com
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Source: Yahoo! Finance
have finalised contracts with Hitachi Energy and NKT for the delivery of the Eastern Green Link 3 (EGL3) electricity transmission project in the UK. The agreements, worth nearly £3bn ($4bn), cover the construction of high voltage direct current (HVDC) converter stations in Aberdeenshire, Scotland, and West Norfolk, England, as well as a 690km transmission link that includes approximately 580km offshore between Scotland and England. NKT will supply and install the 525kV HVDC cable system, covering both subsea and onshore sections, under a contract valued at more than €2.2bn ($2.5bn) for the company. Hitachi Energy has been confirmed as delivery partner for the converter stations at each end of the link. The joint venture between NGET and SSEN Transmission will oversee civil works related to the project. Once completed, EGL3 will provide capacity to transmit up to 2GW of electricity from renewable generation areas in Scotland to demand centres further south, supplying power fo
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