Reported about 10 hours ago
The European Investment Bank (EIB) has committed €1.6 billion ($1 billion) to the Bay of Biscay electricity interconnection project, enhancing power exchange capacity between Spain and France. This initiative is part of broader efforts to improve energy security in Europe and is supported by a significant EU grant. The project aims to integrate two alternating current systems through a submarine direct current line, expected to be operational by 2028, nearly doubling the electricity exchange capacity and reducing carbon emissions significantly.
Source: YAHOO