EIB invests £500m in Scottish interconnector

An investment worth £500 million will be made to support the development of an interconnector in Scotland. The European Investment Bank (EIB) has agreed to provide the money for the […]

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By Jacqueline Echevarria

An investment worth £500 million will be made to support the development of an interconnector in Scotland.

The European Investment Bank (EIB) has agreed to provide the money for the project which consists of a 1,200MW subsea cable between Spittal in Caithness and Blackhillock in Moray.

The power link aims to improve connections between wind, wave and tidal renewable energy schemes and the national power network.

SSE claims it will also help secure the supply of electricity in the Highlands and will provide equivalent electricity to meet the needs of around 2 million Scottish residents.

It is expected that 600 jobs will be created during construction.