A Memorandum of Understanding (MoU) has been signed between Eirgrid and French Transmission Operators Réseau de Transport d’Electricité (RTE), to move to the next phase of development of the Celtic Interconnector Project.

The phase, which will take two years to complete, will include initial design and pre-consultation for an electricity interconnector between Ireland and France.

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Energy Minister Denis Naughten TD said: "The Celtic Interconnector Project has the potential to provide a reliable high-capacity link between Ireland and France that would have huge benefits for the people of Ireland. This project would provide access to the European electricity market, leading to increased competition and lower prices in Ireland. It would also improve security of electricity supply and facilitate increased capacity for renewable energy."

(CD/LM)