Equitix acquires subsea energy interconnector linking Great Britain and Ireland

Equitix and Baltic Cable AB have signed an agreement with Partners Group to acquire Greenlink, a 504 MW electricity interconnector between Great Britain and Ireland.

Equitix and Baltic Cable AB have signed an agreement with Partners Group, acting on behalf of its clients, to acquire Greenlink, a 504 MW electricity interconnector between Great Britain and Ireland.

Greenlink, regulated by Ofgem and CRU, delivers a significant expansion in interconnection capacity between both markets, increasing their security of supply, promoting energy efficiency and facilitating economic competitiveness whilst supporting decarbonization and further integrating energy markets. Interconnectors are critical to power markets across Europe and are a key enabler for the energy transition.

The cable runs between EirGrid’s Great Island substation in County Wexford, Ireland, and National Grid’s Pembroke substation in Pembrokeshire, Wales. It utilises high-voltage direct current (HVDC) technology, which is efficient for long-distance power transmission, and nominal capacity equivalent to powering around 380,000 homes. Greenlink is a highly strategic infrastructure asset that is the first project financed interconnector to be completed in Europe.

The partnering of Equitix, an investor in offshore transmission for over 12 years and Baltic Cable AB, a certified TSO who has been operating an interconnector between Germany and Sweden for over 30 years, offers significant long-term value.

Equitix CIO, Achal Bhuwania said: “We are extremely delighted with our investment in Greenlink, a major regulated asset of critical importance that enhances energy security and facilitates the integration of lower-carbon energy sources in Europe. Leveraging our decade-long experience in transmission assets and our complementary partnership with Baltic Cable, we are committed to driving Greenlink’s continued success for the benefit of all stakeholders.”

Kajsa Hedberg, CEO Baltic Cable said: “This is one important step in providing additional connecting capacity to increase the integration of the trans-European energy market. Investing in Greenlink is well in line with Baltic Cable’s strategy of leveraging our knowledge and experience as an interconnector to further support the green transition and a more resilient energy system in Europe.”

James O’Reilly, CEO Greenlink said: “Greenlink has successfully completed the development and construction phases of its lifecycle under the ownership of Partners Group. We are now entering the commercial operations phase, and the Greenlink team is looking forward to working with our new owners Equitix and Baltic Cable over the long term.”

Equitix was advised by Macquarie Capital, Linklaters, Deloitte and Arup on this transaction.

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Equitix

London, United Kingdom

We are a responsible investor, investing in, developing and managing global infrastructure assets, which materially contribute to the lives of the communities they serve. We employ over 200 professionals across 15 locations, managing over 360 assets in over 20 countries globally, with a current AUM of $12bn.

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