tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

General Electric-Mytilineos Consortium awarded GBP1B contract for subsea link

GE Vernova’s Grid Solutions business and Mytilineos Energy & Metals have been awarded a GBP1B contract by National Grid Electricity Transmission and SP Transmission, part of SP Energy Networks, for the U.K.’s first high-capacity east coast subsea link. Specifically, the GE Vernova-Mytilineos consortium was selected to supply and construct two High-Voltage Direct Current converter stations for Eastern Green Link 1, or EGL1. EGL1 will oversee the construction of a subsea transmission cable from Torness in East Lothian, Scotland to Hawthorn Pit in County Durham, England, enabling the transmission of renewable green energy to power more than two million homes across the UK. GE Vernova, the consortium leader, and Mytilineos will provide the engineering works and technology for the two VSC HVDC converter stations. The design phase will begin in January 2024. Construction will begin in 2025.

Elevate Your Investing Strategy:

  • Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

See the top stocks recommended by analysts >>

Read More on GE:

Disclaimer & DisclosureReport an Issue

1