A final investment agreement to build a 1GW subsea power link between the UK and Belgium has been signed.

The 140-kilometre ‘Nemo’ cable will provide enough capacity to power 500,000 homes and increase the amount of capacity available through interconnectors by 25%.

It will run between Richborough on the Kent coast in England and Herdersbrug near Zeebrugge in Belgium and is expected to start operating in 2019.

The Nemo cable will be the third interconnector linking the UK and Europe, with a 2GW link to France and 1GW link to the Netherlands already in operation.

Energy Secretary Ed Davey said: “Better electricity links to our neighbours help to guarantee our energy security at the lowest possible cost to billpayers and means we can use renewable electricity more effectively, allowing excess generation to be exported.”

The agreement was signed by National Grid and Belgian electricity transmission system operator Elia.