milestones of the estlink2 cable project

Milestones of the Estlink2 cable project

Timo Partanen

Energy Market Authority

Timo.Partanen@emvi.fi

Estlink2, recent development

• Investment decision May 20th, 2010• Fingrid / Elering share 50/50• Capacity 650 MW• Total investment cost 320 million €• Commissioning early 2014• Preconditions:

– 100 million € investment subsidy from EU– Positive development on the Estonian power market

Recent development in the Estonian power market

• Nord Pool Spot opened new Estlink –price area early April.

• Fingrid and Elering rented 250MW capacity from the owners of present Estlink-cable for NPS.

• Total present capacity of Estlink is 350 MW.• Elspot-procurement in Estonia exceeds 20 %.• Almost all of the available Elspot / Estlink- capacity

has been used. • Finnish and Estonian prices have differed 80% of

hours, so new capacity is desperately needed.

Estlink and Estlink2

Estlink2 interconnection cross section

Estlink2 Project schedule

Estlink2 Key project milestones

• Seabed survey report done in December 2009• Starting of PQ procedures for the cable and

converter suppliers in December 2009• Environmental studies and permit applications done

in February 2010• Final investment decision in May 2010• Inquiry documents ready for the cable and

converter in May 2010• Signing of the cable and converter contracts in

December 2010

Thank you for your attention!