UK-based infrastructure group Balfour Beatty has secured a £90m contract to connect British and Danish power grids.
The company will carry out onshore civil engineering works for the Viking Link Interconnector project. Works will be delivered on behalf of the joint venture (JV) delivery partners, National Grid and Energinet.
Balfour Beatty will install 68km of high voltage cabling across Lincolnshire to establish a transmission link that connects Denmark and Great Britain grids at the National Grid’s Bicker Fen substation.
Balfour Beatty Power Transmission and Distribution managing director Ian Currie said: “We are delighted to be contributing to this landmark project which will support the government’s carbon reduction target and provide numerous homes across Great Britain with access to sustainable electricity.
“Our expert teams have years of experience and in-depth knowledge in delivering complex high voltage cabling projects and we look forward to providing National Grid and Energinet with a comprehensive solution which will ensure safe and efficient delivery.”
Once completed, the project will be part of a 765km Viking Link that will power 1.4 million homes in Great Britain.
Besides improving electricity supply in both countries, the link will support the UK Government’s goal to reduce greenhouse gas emissions to net-zero by 2050.
Balfour Beatty plans to begin civil works in January 2020 and complete the project by the end of 2023. During the peak construction phase, the company intends to hire a workforce of 160 including two apprentices.
National Grid Ventures Viking Link project director Mike Elmer said: “This contract is a major milestone in the next part of the project. We’re pleased to be working with Balfour Beatty, who will deliver the onshore cable installation section of the Viking Link Interconnector between landfall site at Sandilands and the Converter Station at Bicker Fen.
“Viking Link will enable Great Britain to import and export electricity; provide a secure supply of affordable electricity and play a vital role in helping to decarbonise the UK’s power supply on our journey to a net-zero carbon energy system.”
Balfour Beatty’s stock price is currently 266.60p on the London Stock Exchange, giving the company a market capitalisation value of £1.84bn.
Balfour Beatty share price 2019