National Grid and SP Energy to form a joint venture.

National Grid, a multinational electricity and gas utility company, and SP Energy, which owns and operates the electricity transmission and distribution network, agreed to form a JV focused on a major new subsea high voltage direct current (HVDC) electricity transmission link between Scotland and England. Financial terms were not disclosed. “Reaching the preferred bidder stage is a key milestone for EGL4 and a sign of the progress being made on this vital infrastructure project. Siemens Energy brings strong expertise in HVDC converter station delivery and will be a critical partner as we prepare to build this subsea superhighway. EGL4 will help create the capacity our electricity system needs for the future, connecting clean, home-grown energy to homes and businesses and strengthening the UK’s energy security.” James Goode, National Grid Project Director.