Groupe Eurotunnel and STAR Capital have signed a conditional agreement for the purchase by Groupe Eurotunnel of STAR Capital’s 51% share of ElecLink.
The transaction is subject to certain closing conditions, once concluded, Groupe Eurotunnel would hold 100% of ElecLink.
ElecLink was established in 2011 and is developing a high voltage direct current interconnector to link the electricity markets of Great Britain and France via the Channel Tunnel. Once operational, ElecLink will increase the existing interconnection capacity between the two countries by 50% thereby enhancing security of electricity supply for both businesses and domestic consumers.
By utilising the existing Channel Tunnel infrastructure, ElecLink will offer 1,000 MW of additional bidirectional capacity with very low environmental impact and very high reliability supporting the efficient utilisation of generation sources (including intermittent low carbon generation) in both countries.