Dáil Éireann Debate, Tuesday - 15 October 2024
110. Deputy Christopher O'Sullivan asked the Minister for the Environment, Climate and Communications to provide an update on the Celtic Interconnector project; the estimated timeline for completion; the amount of State funding to date towards the project; and the remaining Exchequer funding both current and capital committed over the remainder of this decade. [40923/24]
Amharc ar fhreagraThe Celtic Interconnector is a 700 MW electricity interconnector between Brittany and East Cork, developed by EirGrid and its French counterpart, Réseau de Transport d’Électricité (RTÉ). This project will reinstate direct connectivity to the Internal Energy Market following the United Kingdom's departure from the European Union.
The project is on track for completion in 2027. The 2024 survey campaign for the project has been successfully completed. The installation of the HVDC cable commenced in the second quarter of 2024, while the HVAC cable route installation is projected to be completed by the fourth quarter of 2024.
The offshore marine installation and submarine cable protection works are scheduled to begin in 2025, with completion anticipated in 2026. The commissioning phase for the interconnector is planned for 2026, with energization aimed for late 2026 and the trial operation period expected to conclude by the end of March 2027.
The cost of the project is shared between EirGrid and RTÉ in accordance with the Cost Benefit Cost Allocation determination. The costs are financed rather than directly funded by the State, with costs to be recovered from the operation of the Interconnector. Further detail on this regulatory framework, that aims align the interests of electricity customers and EirGrid while enabling EirGrid to progress and finance this project, is available on the website of the Commission for the Regulation of Utilities[1].
The project achieved Project of Common Interest Status and was successful in securing €530 million in capital funding under the Connecting Europe Facility significantly mitigating financing requirements.
[1]cruie-live-96ca64acab2247eca8a850a7e54b-5b34f62.divio-media.com/documents/CRU202213-Celtic-Electricity-Interconnector-EirGrid-Regulatory-Framework-Request-decis.pdf.
