The Norwegian state-owned enterprise Statnett has received approval for two licenses from the the country's Ministry of Petroleum and Energy for two 1,400MW power interconnectors - one to Germany and the other to the UK.
The license approvals boost Norway's interconnection capacity by almost 50%.
Commissioning of the cables to Germany and the UK are likely to be in 2018 and 2020, respectively.
Statnett, which is responsible for owning, operating and constructing stem power grid in Norway, owns both the interconnectors.
The firm will work with Germany's system operator TenneT and the German state-owned bank Kreditanstalt für Wiederaufbau (KfW) for the Norway-Germany project, which is called project Nord.Link, and will connect Tonstad in Norway and Schleswig-Holstein in Germany.
UK system operator National Grid will co-ordinate with the firm for setting up the Norway-UK project, called as North Sea Network (NSN).
According to the Norwegian Ministry of Petroleum and Energy, the sub-sea cable connector between Kvilldal in Norway and Blyth in the UK will be the longest of its kind in the world.
Statnett executive vice-president Håkon Borgen said: "The two new interconnectors will be key parts of the next generation power system and will contribute to greater security of supply and more value creation in Norway.
"They will also pave the way for increased utilisation of renewable energy, and thereby for reaching the climate targets in Norway and our partner countries."
Norwegian Minister of Petroleum and Energy Tord Lien said: "Interconnection with Germany and the UK will give a better utilisation of the power systems and create economic benefits.
"These cables are important for successfully increasing our share of renewable energy."
Norwegian Minister for Climate and Environment Tine Sundtoft said: "The electricity interconnectors will contribute to Norwegian renewable energy, replacing fossil energy in Europe and will facilitate green value creation in Norway."