Transmission Capital
    

14 October 2013

FAB power interconnector selected as European priority project

The France-Alderney-Britain interconnector project (“FAB”) has been selected by the European Commission as a Project of Common Interest (“PCI”).

Projects with a PCI designation are to benefit from faster and more efficient permit granting procedures and improved regulatory treatment. They may also have access to financial support from the Connecting Europe Facility (“CEF”), under which a €5.85 billion budget has been allocated to trans-European energy infrastructure for the period 2014-2020. This funding may assist both the development and the construction of the project.

For a project to receive the PCI designation it has to have significant benefits for at least two Member States, contribute to market integration and further competition, enhance security of supply, and reduce CO2 emissions.

Further information on PCI projects can be found at:http://ec.europa.eu/energy/infrastructure/pci/pci_en.htm

The FAB project is being developed by FAB Link Limited (a joint venture between Alderney Renewable Energy Limited and Transmission Investment) and the French grid operator, Réseau de Transport d’Électricité (“RTE”). It is to be capable of transmitting 1,400MW of power, equivalent to 3.5% of the UK’s average demand. The project also provides a route to market for the proposed Alderney tidal generation with the potential for up to 1,400MW of power flowing from Alderney to the UK and France simultaneously.

[ Link to press release.]