EuroWire March 2015

News Corporate

UK/Norway energy plan

returns from the trading of renewable energy across the North Sea are higher than expected. Ed Davey, the UK energy secretary, has already signalled his backing for the scheme. National Grid – UK Website : www.nationalgrid.com.uk Statnett – Norway Website : www.statnett.no

The project still requires official sanction from Ofgem, the UK’s energy regulator. Ofgem launched a consultation in early January aimed at agreeing an acceptable ‘cap and floor’ regulatory regime for the project, an arrangement that would in effect have UK taxpayers underwriting the project – the government would offer National Grid and Statnett a guaranteed minimum return on the interconnector. However, the government would be able to claw back any excess profits if

National Grid and Statnett, currently developing a 1,400MW, ±525kV HVDC electricity interconnector between the UK and Norway, are reported to be close to agreement on the €2billion investment, which would create a 700km undersea interconnector, the longest anywhere in the world, between Blyth in Northumberland, UK, and Kvilldal in southern Norway. It would allow the UK to import hydroelectric power, and could be a major factor as it attempts to meet its national and EU renewables targets while boosting its generating capacity. Auke Lont, chief executive of Statnett, said that he hoped that a firm decision to build would be made early this year. “The plan is to take a decision on investing in the first quarter, with the hope that it could be in operation by 2020,” he said. £300,000 investment in Scottish armouring line Aberdeen energy service firm Hydro Group has invested £300,000 in an advanced cable armouring line at its Bridge of Don facility. Hydro Group, which designs and manufactures cables and connectors for subsea and onshore use, said its custom-designed single- and multi-layered steel armoured cables will withstand higher stresses in subsea and defence operations. Doug Whyte added: “The new machinery is a significant addition to our current capabilities, as well as enhancing the quality of work we produce. “The installation is the first of two armouring lines, with the second, which will have greater capacity in size and overall lengths, being installed after completion of our facility extension later in the year.” Hydro Group, comprising Hydro Bond Engineering and Hydro Cable Systems, employs about 100 people and was founded by Mr Whyte as Hydro Bond Engineering in 1982. The group now serves the energy and defence industries, with projects including work on submarine platforms and acoustic ranges for navies around the world. Hydro managing director

Hydro Group – UK Website : www.hydrogroupplc.com

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March 2015