Mizuho supports landmark NeuConnect project in Europe for sustainable energy across the continent
Project Flow As a leading bank in electricity transmission financing, Mizuho acted as loan Bookrunner and IRS/RPI swap provider in a £2.2 billion long-term project financing deal. The financing will support a consortium of Meridiam, Kansai Electric and Allianz Capital Partners to develop a 720km subsea electricity interconnector project between the UK and Germany that will be used to transmit affordable and secure sustainable energy. Interconnectors have become indispensable in enabling countries to enhance their use of intermittent clean energy resources through shared access to energy networks that help to balance supply and demand of clean energy sources and support security of supply. Challenge Interconnectors play a vital role in the transition to green energy. These electrical highways of the sea are growing in strategic importance globally, with the EU targeting 15% interconnection by 2030 as part of its Climate and Energy Targets. The NeuConne...