The European Union (EU) will provide €578 million ($719 million) to build a major power link running through the Bay of Biscay to export Spain’s excess renewable energy to France.
The purpose of the 230-mile subsea power cable is to enable both nations to ease one of the most congested network bottlenecks on the continent, and reduce reliance on Russian gas supplies as both France and Spain work towards meeting EU carbon reduction goals.
The link increases connectivity across the Iberian Peninsula and the Spanish energy ministry said it would end the peninsula's isolation from the rest of the European energy market.
This would be the EU’s largest ever grant for energy infrastructure, contributing to the €1.75 billion ($2.18 billion) project. The remainder of the cost will be split between France and Spain.
Interconnection capacity between the two countries would be increased from 2.8 gigawatts to 5 gigawatts under the plans.
The cable will come into operation in the year 2025.
