€1bn subsea power cable will provide enough power for 450,000 homes, says Coveney
A €1bn subsea power cable linking Ireland to France will help drive down electricity prices for Irish consumers, government leaders said today as they signed an application for some €600m in European grant aid for the project.
Tánaiste Simon Coveney said the Celtic Interconnector, which will be able to import and export up to 700MW of electricity - enough to power around 450,000 homes - will allow Ireland to buy and import cheaper electricity from France and, in due course, export Irish-produced renewable energy to Europe.
