TenneT, Statnett and KfW have signed a cooperation agreement regarding the construction of NordLink and thereby made the final investment decision for this interconnector project.

The 623 km long high voltage direct current (HVDC) link with a capacity of 1.400 megawatts shall increase both security and efficiency of supply and support the integration of the European electricity market. It is considered a milestone for the successful implementation of the German Energiewende (“energy turnaround”).

NordLink comprises an investment volume of approximately €1.5 to 2bn. It shall be realized by the Norwegian TSO Statnett on the Norwegian side and DC Nordseekabel GmbH & Co. KG, a joint venture company owned in equal parts by TenneT and KfW, on the German side. Construction of the interconnector is expected to commence shortly.

Hengeler Mueller advised TenneT on the transaction. The Hengeler Mueller team included partners Steffen Oppenländer (Corporate, London), Dirk Uwer (Regulatory,
Düsseldorf), Stefanie Beinert (Tax, Frankfurt), counsel Daniel J. Zimmer as well as associate Jörg Meinzenbach (both Regulatory, Düsseldorf).