Groupe Eurotunnel SE: ElecLink: Works to Start in 2016, an Investment of More Than €500 Million in Kent and the Pas-de-Calais, Creating Employment

Regulatory News:

GROUPE EUROTUNNEL SE (Paris:GET):

ElecLink, the future electricity interconnector between the UK and France via the Channel Tunnel, has obtained another successful decision from the French Conseil d’Etatⁱ. The construction phase of the project is expected to have commenced by the end of 2016 and continue for 36 months for the two converter stations and 32 months for the installation of the cable through the Tunnel. Commercial service is expected to commence in 2019.

The more than €500 million investment will be financed by private funds and will generate employment, notably in the Calais area.

This ambitious project will put a new electricity transmission link into service between the UK and France to the benefit of both regions and both countries. It will also provide improved security of supply and regulation of national production. Within the context of energy transition this issue becomes more and more important where more future production is targeted to come from renewable and intermittent sources.

The first interconnector to be commissioned between the UK and France since 1986, the ElecLink project is distinct from other interconnectors in that its cable will pass through the Channel Tunnel reducing its environmental impact. ElecLink has, as a result, obtained the support of the French and British governmentsⁱⁱ and is recognised as a "Project of Common Interest” by the European Commission.

"I am delighted that ElecLink has passed through the legal and regulatory steps. We are now impatient to start work and to contribute to employment creation”, said ElecLink CEO, Steven Moore. "An investment of this magnitude which helps energy transition whilst leaving such a small impact on the environment is an exceptional opportunity for Kent and the Calais area”.

ElecLink contacts: http://www.eleclink.co.uk/eleclink-contact-us.php

ⁱ Decision of the French Supreme Court (Conseil d’Etat) of 15 April 2016
ⁱⁱ France-GB summit of 17 February 2012

View source version on businesswire.com: http://www.businesswire.com/news/home/20160422005341/en/