In its final Initial Project Assessment decision for the Third Cap and Floor Window, published on 12 November 2024, Ofgem granted a cap and floor regime in principle only to MaresConnect, LirIC and Tarchon, and, as later summarised by the Belgian regulator, negatively assessed the Cronos GB–Belgium interconnector, effectively rejecting its application for cap and floor revenue support.
The Cronos Energy interconnector, a planned 1,400 MW, 525 kV HVDC link of about 202 km between the Bruegel/Zeebrugge area in Belgium and Kemsley, Kent in the UK, was included in the EU’s first PCI/PMI list and granted a PMI label by the European Commission. This designation recognises Cronos as a priority cross‑border electricity interconnection project at EU level during its early development and permitting phase.
On 4 March 2024, Ofgem opened a consultation on its ‘minded-to’ decision for the Third Cap and Floor Window, stating an intention to reject the Cronos 1.4 GW Kemsley–Belgium interconnector from the regime due to concerns over high constraint costs and deliverability.
Upgrade to access detailed cable specifications, supply chain data, projected timeline, financial analysis, and more.
The Cronos project is a planned 1.4 GW cross‑border electricity interconnector between Great Britain and Belgium. It is being developed by Cronos Energy Ltd and comprises a combination of subsea and onshore high‑voltage cable(s) with an overall route length of roughly 200 km reported by the devel...
Owners
Cronos Interconnector, Cronos Energy, NESO TEC PRO-000984
Copenhagen Infrastructure Partners’ Cronos interconnector project, together with the Aminth and Tarchon links, received its UK electricity interconnector licence from the UK Office of Gas and Electricity Markets (Ofgem) in early 2023, enabling it to progress towards assessment under the Third Cap and Floor Window. The licence award formed part of CIP’s 4.2 GW subsea interconnector portfolio between Great Britain and mainland Europe.
On 24 February 2023, the Cronos GB–Belgium interconnector, as part of Copenhagen Infrastructure Partners’ UK–Europe interconnector portfolio, was officially included by Ofgem in the list of projects eligible for assessment in the UK’s Third Cap and Floor Window, initiating detailed financial and technical scrutiny under the revenue support regime.
In late 2022, Copenhagen Infrastructure Partners’ Flagship Fund acquired close to full ownership of a 4.2 GW subsea interconnector development portfolio from UK developer Volta Partners, which includes the 1.4 GW Cronos interconnector between Great Britain and Belgium. This transaction transferred the development rights for Cronos and the other portfolio projects (Aminth and Tarchon) into CIP’s control to advance them toward final investment decisions and operation in the early 2030s.
The Cronos UK–Belgium interconnector project was again included in ENTSO‑E’s Ten‑Year Network Development Plan 2022, confirming its continued status as a planned cross‑border transmission project in the European system development outlook.
Cronos, a direct interconnection project between the UK and Belgium, was listed in ENTSO‑E’s Ten‑Year Network Development Plan 2020, signalling its recognition at the European transmission planning level as a relevant future interconnector.
Showing historic events only. Subscribe for the full timeline including projected milestones.