The companies have also signed financing agreements with the European Investment Bank (EIB), Danske Bank, Barclays and BNP Paribas. Credit: © European Investment Bank.

Irish electricity grid operator EirGrid and its French counterpart, Réseau de Transport d’Electricité (RTE), have signed technical and financial agreements for a 700MW high-voltage submarine cable.

The companies have signed contracts with Siemens Energy for the creation of converter stations in Ireland and France to support the Celtic Interconnector project.

Go deeper with GlobalData

Go deeper with GlobalData

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

French cable manufacturer Nexans has also been contracted to design and install a 575km cable for the project.

The Celtic Interconnector will link Ireland’s southern coast with the northwestern coast of France via the cable, which will be laid between East Cork and the coast of Brittany.

This cable will have the capacity to import and export enough electricity to power 450,000 homes.

The project will link substations at Knockraha in Cork, Ireland; and La Martyre, France.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

It is expected to become operational by 2026 and will be the first interconnector between Ireland and continental Europe.

The Celtic Interconnector is being funded in part by the European Union, which has categorised it as a Project of Common Interest (PCI).

EirGrid CEO Mark Foley said: “The Celtic Interconnector is a key part of EirGrid’s strategic goal to transform Ireland’s power system and increase the use of renewable electricity.

“Interconnection with France makes the power system more resilient and efficient and allows renewables to become the primary energy source on the national grid.”

In addition, EirGrid and RTE have signed financing agreements worth €800m ($839.6m) with the European Investment Bank (EIB), Danske Bank, Barclays and BNP Paribas.

The companies previously received €530.7m of Connecting Europe Facility (CEF) financing for the project in 2019.

EIB vice-president Ambroise Fayolle said: “Investment in cross-border electricity interconnectors is essential to deliver climate and energy goals.

“The European Investment Bank is pleased to support the Celtic Interconnector as part of our support for climate action and energy security across Europe.”

Power Technology Excellence Awards - Nominations Closed

Nominations are now closed for the Power Technology Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact.

Excellence in Action
Recognised with three 2025 Power Technology Excellence Awards, Hover Energy is at the forefront of intelligent microgrids and distributed renewables. Explore how its AI-enabled Microgrid Management System™ , strategic partnerships and networked microgrids are rebuilding the grid from the ground up for a more flexible, resilient energy future.

Discover the Impact