ScottishPower Secures £600m for Subsea Power Cable Development

• •ScottishPower secured £600 million for the EGL4 subsea power cable project.
• •The 530 km cable will connect Scotland and England, powering 1.5 million homes.
• •Construction is expected to begin in 2029, with the cable operational by 2033.

ScottishPower has obtained £600 million in financing from the UK's National Wealth Fund for the Eastern Green Link 4 (EGL4), a 2 GW high voltage direct current subsea power cable connecting Fife, Scotland to Norfolk, England. The 530 km cable aims to transmit enough electricity to power 1.5 million homes, facilitating the transfer of renewable energy from Scotland to England. This financing follows a previous £600 million loan from the National Wealth Fund in May 2025 for ScottishPower's network initiatives. The project is part of the UK government's strategy to enhance energy infrastructure and security. Construction is anticipated to start in 2029, with operations expected by 2033, pending planning approvals. The National Wealth Fund aims to support the UK's Clean Power 2030 pathway through strategic investments in energy infrastructure. The project is expected to create jobs and strengthen the economy by enhancing energy security.