Under the four-year contract, the company will be responsible for the civil engineering and installation of 68 kilometres of high voltage cabling across Lincolnshire.
It is part of the 765-km Viking Link that will enable the sharing of renewable energy between the two countries, with a capacity to power one and a half million homes in the UK.
At peak, Balfour Beatty expects to employ around 160 people, including two apprentices.
Mike Elmer, Viking Link Project Director for National Grid Ventures said: “This contract is a major milestone in the next part of the project. We’re pleased to be working with Balfour Beatty, who will deliver the onshore cable installation section of the Viking Link Interconnector between landfall site at Sandilands and the Converter Station at Bicker Fen.
“Viking Link will enable Great Britain to import and export electricity; provide a secure supply of affordable electricity and play a vital role in helping to decarbonise the UK’s power supply on our journey to a net zero carbon energy system.”
Work is due to commence in January 2020 and scheduled for completion at the end of 2023.