The European Investment Bank has invested € 100 m ( $ 114 ) in bonds to back the 1.4 GW ##e undersea cable project between Germany and Norway . Statnett from Norway will take 50% ownership of the project, while DC Nordseekabel will retain the remaining 50%. The investment takes the form of an agreement to purchase € ##100 m in hybrid securities issued by European transmission system operator TenneT. Once completed , the submarine interconnector will stretch 624 km between Norway and Germany , of which 516 km will run under the North Sea .
The European Investment Bank has invested € 100 m ( $ 114 ) in bonds to back the 1.4 GW ##e undersea cable project between Germany and Norway . The investment takes the form of an agreement to purchase € ##100 m in hybrid securities issued by European transmission system operator TenneT. Once completed , the submarine interconnector will stretch 624 km between Norway and Germany , of which 516 km will run under the North Sea .