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Transmission Investment said the receipt of this licence provided the fundamental regulatory licencing requirements, reduced project risk and allowed the project to move forward with confidence.
Project director Keith Morrison said it marked a “significant step forward” for the proposals.
The scheme would involve building two converter stations, one in Northern Ireland and one in Scotland, and a cable of about 80 miles (129km) linking the two, depending on the final route.
Interconnectors which include a link to Great Britain are developed under Ofgem’s “cap and floor” regime, which provides a guarantee of how much money they will make.
It gives developers a minimum return (floor) and a limit on the potential upside (cap) for a 25-year period.
BBC News
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