By Rory Gallivan
LONDON--The U.K.'s electricity network operator National Grid
PLC (NG.LN) Thursday said it plans to sign an agreement with the
main owner of Norway's electricity transmission system Statnett SF
to build the first electricity link between the two countries.
The estimated cost of the project is 2 billion euros ($2.2
billion), National Grid said, with investment to be shared between
National Grid and Statnett.
National Grid said the link, which should be operational early
in the next decade, will have the capacity to meet the needs of
around 750,000 homes, giving the U.K. access to low-carbon energy
from Norway's hydro-electric power stations.
National Grid shares at 1039 GMT were down 6 pence, or 0.7%, at
888 pence, valuing the company at GBP33.2 billion ($49.4
billion).
Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter:
@RoryGallivan
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