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Power cables to link UK and Germany to Norway

German renewable energy sources will be linked to Norwegian storage plants via a new sea cable to be completed by 2018, grid operators said on Thursday, while plans for a similar UK cable were also announced.

The high-voltage, direct current cable will form part of a new electricity highway – designed to carry excess wind or solar energy from Germany to Norwegian pump-storage plants.

Germany can only realise ambitious goals for increasing its renewable energy production if electricity can be stored on windy or sunny days for use on cloudy, still days.

But although Germany has impressive wind and solar photovoltaic generation capacity, it has no way of storing excess electricity.

Norway, on the other hand has a large number of pump-storage plants, where excess electricity is used to pump water uphill into high-altitude storage tanks. When energy is needed, the water is released, turning hydroelectric turbines and generating electricity on the way downhill.

The new connection could also be used to bring electricity back to Germany to meet shortfalls in supply, said grid operator firm Tennet.

The Dutch-German operator said the project details – which would see two direct current cables laid between the countries – would be agreed and signed by September.

"The first [cable] should be ready by 2018, as long as all the necessary permits are granted over the coming year and that material and manufacturing capacities are sufficient," said a Tennet spokesman. The second cable should be in operation by 2028.

German Economics Minister Philipp Rösler – who met the Norwegian Minister for Oil and Energy Ola Borten Moe in Berlin before Thursday’s announcement – said he expected the planned energy exchange with Norway to "strengthen the security of supply in Germany and reduce the price of electricity for consumers and businesses."

The connection would also play an important role in Germany's transition from nuclear to renewable energy, said Minister Rösler, helping to "integrate renewable energy" and stabilize the grid.

German state-owned bank KfW will put up 25-30 percent of the costs for the new connection, which will play a vital role in storing Germany's excess energy from renewable sources for a rainy day. The first cable alone will require investments of up to €2 billion.

Tennet has been in discussions with Norwegian grid operator Statnett over the project for more than two years. The Norwegian company, which will be responsible for half of the construction work, also announced plans for a future cable linking Norway to the UK, slated for completion in 2020. 

"Together, the two cables will strengthen the North European electricity grid and the supply security in Norway," Norway's energy department said in a statement.

"The cables will be used for profitable trading of power, meaning electricity will flow to Norway when prices in Germany and the UK are lower than here. In the same way, we will export when prices are high abroad."

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BUSINESS

France’s EDF hails €10billion profit, despite huge UK nuclear charge

French energy giant EDF has unveiled net profit of €10billion and cut its massive debt by increasing nuclear production after problems forced some plants offline.

France's EDF hails €10billion profit, despite huge UK nuclear charge

EDF hailed an “exceptional” year after its loss of €17.9billion in 2022.

Sales slipped 2.6 percent to €139.7billion , but the group managed to slice debt by €10billion euros to €54.4billion.

EDF said however that it had booked a €12.9 billion depreciation linked to difficulties at its Hinkley Point nuclear plant in Britain.

The charge includes €11.2 billion for Hinkley Point assets and €1.7billion at its British subsidiary, EDF Energy, the group explained.

EDF announced last month a fresh delay and additional costs for the giant project hit by repeated cost overruns.

“The year was marked by many events, in particular by the recovery of production and the company’s mobilisation around production recovery,” CEO Luc Remont told reporters.

EDF put its strong showing down to a strong operational performance, notably a significant increase in nuclear generation in France at a time of historically high prices.

That followed a drop in nuclear output in France in 2022. The group had to deal with stress corrosion problems at some reactors while also facing government orders to limit price rises.

The French reactors last year produced around 320.4 TWh, in the upper range of expectations.

Nuclear production had slid back in 2022 to 279 TWh, its lowest level in three decades, because of the corrosion problems and maintenance changes after
the Covid-19 pandemic.

Hinkley Point C is one of a small number of European Pressurised Reactors (EPRs) worldwide, an EDF-led design that has been plagued by cost overruns
running into billions of euros and years of construction delays.

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