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Press Release25 November 2022Siemens EnergyParis
Siemens Energy connects Irish power grid with Continental Europe for the first time
Celtic Interconnector has a total length
of 575 kilometers, of which 500 kilometers of cables will run through the
Celtic Sea. Over such long distances, electricity can only be economically
transported in the form of direct current. Siemens Energy is therefore building
two converter stations at the end points of the interconnector – one near
Knockraha, located in the County Cork region of Ireland, the other one near La
Martyre in France. Both can convert alternating current, as fed into the
stations from the respective national grid, into direct current for
transportation, and vice versa. In this way, the converter stations enable the
bidirectional exchange of up to 700 megawatts of electricity. This corresponds
to the supply of around 450,000 households. In the future, Ireland will be able
to import French electricity to secure base load in the grid or – after
implementation of its ambitious wind energy plans - send excess renewable
energy to Europe. Energization of Celtic Interconnector is scheduled for 2026.
“We absolutely cannot afford to waste
electricity from renewable energy sources. Every spare electron of renewable
energy that can be shared with others brings us closer to our climate goals,”
says Tim Holt, Member of the Executive Board of Siemens Energy. “The increasing
interconnection of European electricity grids enables consumers to benefit from
a more open electricity market, higher energy security and lower electricity
costs. It demonstrates that only together we can manage the energy triangle of
affordability, reliability, and security.”
HVDC technology plays a decisive role in the changing European
energy landscape: electricity links between neighboring countries lower the
risk of blackouts and facilitate the handling of variable renewable power
sources like solar and wind. Working towards a carbon-free Europe, the EU has
set a target that each country should aim for an electrical interconnection
capacity of at least 15 percent of its installed production by 2030, provided that the welfare cost-benefit analysis of
each new investment remains profitable in the public interest. In
2021, 16 countries reported being on track to reach that target by 2030 or have
already reached it.
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Siemens Energy is one of the world’s leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain – from power generation and transmission to storage. The portfolio includes conventional and renewable energy technology, such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers. More than 50 percent of the portfolio has already been decarbonized. A majority stake in the listed company Siemens Gamesa Renewable Energy (SGRE) makes Siemens Energy a global market leader for renewable energies. An estimated one-sixth of the electricity generated worldwide is based on technologies from Siemens Energy. Siemens Energy employs around 92,000 people worldwide in more than 90 countries and generated revenue of €29 billion in fiscal year 2022.