Imera to build North Sea and Atlantic electricity grids

Jan 30, 2009 - Datamonitor

Imera, an asset investment company involved in the development of subsea power grids, has announced that it will build North Sea and Atlantic electricity grids, connecting key markets and offshore wind farms as the foundation for a pan-European offshore electricity network.

The Imera EuropaGrid project will comprise of EuropaGrid North and EuropaGrid Atlantic.EuropaGrid North Sea connects Scandanavia, Western Europe and the UK. The first phase represents an investment of E2.76 billion.

EuropaGrid Atlantic connects UK, Ireland, France and Spain. The first phase represents an investment of E1.65 billion. Imera is already developing this with the first cables coming in to operation in 2010.

Rory O'Neill, CEO of Imera, said: "There are two main factors which are driving the development of the North Sea Grid, the EU's call for increased interconnection across Europe as a priority issue, and the EU's target of 20% of its required energy from renewable sources by 2020."