Fid Financial Close

Svenska kraftnät's signing of the Nexans cable supply contract on 19 December 2024 represents the de-facto financial commitment (FID equivalent) for the Gotland Connection (Gotlandsförbindelsen) project. As a regulated Swedish TSO project funded through the national transmission tariff and the SEK 9.8 billion Gotlandsförbindelsen budget, the project does not undergo a discrete merchant-style FID event. Instead, the irrevocable commitment of the largest single CAPEX line — 320 km of 220 kV HVAC subsea and onshore cables manufactured and installed by Nexans for delivery up to mid-2030 — is the operative financial close. This pattern is documented for other regulated TSO transmission projects (Danish Energinet LUP-funded works, German BNetzA NEP confirmations, Greek RAE Decision 611/2021) where a major contract award by the regulated operator is treated as the financial commitment milestone for status derivation purposes. The contract was confirmed by both SvK and Nexans (Nexans press release 19 Dec 2024) and aligns with the project's mid-2030 commissioning schedule. Recorded by audit:gotland_connection 2026-04-14.