Dublin, Sept. 11, 2023 (GLOBE NEWSWIRE) -- The "Power Transmission in Europe & Outlook 2030" report has been added to ResearchAndMarkets.com's offering.
Explore the comprehensive analysis of Europe's Power Transmission landscape in this report, offering valuable insights into the existing network's status and upcoming projects slated until 2030.
Delve into a country-by-country examination that identifies pivotal opportunities on a regional scale, shaping the power transmission trajectory across the continent.
The Power Transmission sector in Europe is poised for substantial advancement, driven by the European Union's commitment to invest €1.037 billion (USD 1.18 billion) in five cross-border infrastructure projects through the Connecting Europe Facility (CEF) for trans-European energy networks. With financial backing for four construction projects and one study, these initiatives are set to invigorate the growth of Power Transmission in the region.
The largest share of the funding, €657 million (USD 746 million), has been allocated to the EuroAsia interconnector project, which aims to establish the first electricity interconnection between Cyprus and the European grid. The construction project includes 3 projects for electricity transmission as follows: The EuroAsia interconnector project is an ambitious electricity infrastructure project that will interconnect the transmission networks of Cyprus and Greece, effectively ending the energy isolation of Cyprus.
The project involves laying approximately 898 km of undersea cables, which will set new world records for a project of this kind due to the maximum sea pth of 3000 meters. Baltic Synchronisation Project Phase II (€170 million or USD 192 million).
The Baltic Synchronisation project, which aims to integrate the power grids of Estonia, Latvia, Lithuania, and Poland with the wider European grid, has received further funding under the second phase of the Connecting Europe Facility (CEF) program. This funding will be used to reinforce the grid in Poland and upgrade the transmission infrastructure in Lithuania, Latvia, and Estonia. Aurora Line (€127 million or USD 143 million).
The Connecting Europe Facility (CEF) will fund the development of a third transmission line between Sweden and Finland, increasing electricity transmission capacity and integrating onshore and offshore renewable electricity.
A selection of companies mentioned in this report includes
- 50Hertz Transmission
- General Electric
- ABB Power Grids
- Siemens
- OFGEM
- TenneT
- TransnetBW
- Scottish and Southern Electricity Networks
- Energinet
- Fingrid
- Scottish Hydro Electric Transmission plc
- EirGrid
- Terna
- Reseau de Transport d'Electricite - France TSO
For more information about this report visit https://www.researchandmarkets.com/r/o4upmd
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