By Pietro Lombardi MADRID, April 21 (Reuters) - Spain and Ireland's energy ministers will sign a preliminary agreement on Thursday on assessing the viability of an undersea power link between the two
Spain and Ireland to Study Feasibility of New Undersea Electric Interconnector
Preliminary Agreement and Context
By Pietro Lombardi
Agreement Signing and Purpose
MADRID, April 21 (Reuters) - Spain and Ireland's energy ministers will sign a preliminary agreement on Thursday on assessing the viability of an undersea power link between the two countries, the Irish government said on Tuesday.
Benefits of the Connection
A connection would allow the exchange of power between the countries that have significantly increased renewable energy production and would be in line with Europe's broader focus on security of supply and decarbonisation.
Spain's Energy Connectivity Challenges
For Spain, its lack of power connections with the rest of Europe has long been a source of frustration.
EU Interconnection Targets
Under EU targets, by 2030 each European country should have enough power connections to allow it to import the equivalent of at least 15% of its electricity production. The capacity of Spain's interconnections so far is less than the equivalent of 3% of its production.
Urgency Following Recent Events
Madrid has long pushed to increase its power links with the rest of continental Europe, and an unprecedented blackout last year added urgency.
Project Feasibility and Related Developments
The memorandum of understanding establishes a general framework for analysing the project's feasibility and economics, according to a draft seen by Reuters.
Other Interconnector Projects
The Irish and French electricity grid operators are already building a power connection between the two countries. Expected to start operations in 2028, it will be the first interconnector between Ireland and continental Europe.
(Reporting by Pietro Lombardi, additional reporting by Padraic Halpin, editing by Aislinn Laing and Barbara Lewis)
