From Yahoo Finance: 2025-06-16 07:36:00

The European Investment Bank (EIB) has pledged €1.6bn for the Bay of Biscay electricity interconnection project, boosting power exchange capacity between Spain and France. The project, supported by the EU, will connect the two countries through a submarine direct current line. Conversion stations in France and Spain will facilitate grid integration. Construction is underway, with completion expected in 2028. Once operational, the project will double electricity exchange capacity and cut carbon emissions by 600kt annually. This initiative aligns with EU targets for interconnected production capacity by 2030.



Read more at Yahoo Finance: EIB provides $1bn for Bay of Biscay electricity interconnection project