The companies involved are National Grid, which owns and manages energy networks in the UK and US; REN (Redes Energéticas Nacionais) Portugal's Transmission and System Operator Concessionaire working in association with the State Grid Company of China (the largest electricity transmission company in the world), as well as global wind and solar developer Mainstream Renewable Power which is leading the export project.
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The companies bring unrivalled global capability in terms of the future developing, financing, constructing, owning and operating of large-scale international electricity transmission assets.
Mainstream Renewable Power launched Energy Bridge in June of this year and has already secured an offer for 5,000MW of grid connection to the UK. The company is currently engaging with landowners in the midlands of Ireland to secure the land required to start constructing the first 1,200MW phase of the project with the aim of supplying this 1.2GW of energy to the UK by 2017.
Commenting on the MoU, Mainstream’s Chief Executive Eddie O'Connor said: "This is a major milestone in our plan to start delivering renewable energy to the UK from 2017. I am delighted to be working with such recognised world leaders in electricity transmission systems. We are now putting a team of experts together in order to conduct comprehensive feasibility studies and a business plan. This will be the precursor to the companies forming a joint venture to develop, build, finance, own and operate the system. This has never been done anywhere in the world and Mainstream is very excited to be leading such a ground breaking project."
(CD)
