€530 million funding for Celtic Interconnector welcome
Ibec, the group that represents Irish business, today welcomed the news that the European Commission will contribute €530 million to the construction of the Celtic Interconnector, a 575km power line connecting the Irish and French electricity markets. The planned underwater interconnector will connect Ireland directly with the Continent for the first time, and with our closest EU neighbour after Brexit.
Ibec’s Director of Policy and Public Affairs Fergal O’Brien said: “Today’s announcement represents a significant milestone in the ongoing transition to a more integrated and sustainable European energy system. Greater collaboration and interconnection with our European neighbours is crucial if we are to effectively combat climate change and deliver a low carbon energy system. The Celtic Interconnector will play a key role in helping us meet our 70% renewable electricity target by 2030 and is a project of significant common interest for Ireland and France.”