Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
On 22 November 2007, the European Investment Bank (EIB) signed a finance contract worth EUR 140 million with Dutch TSO TenneT for the construction of the NorNed submarine HVDC cable linking Eemshaven in the Netherlands and Feda in Norway. The EIB indicated that, together with a possible similar loan to Norwegian TSO Statnett, it would finance nearly 50% of the approximately EUR 600 million project cost, supporting this trans‑European energy network (Energy‑TEN) interconnector in line with EU energy policy objectives.