MaresConnect Limited (MCL) welcomes the positive minded-to decision from the Commission for Regulation of Utilities (CRU) in Ireland regarding its Initial Project Assessment (IPA) of the MaresConnect interconnector.
The CRU decision reflects the Irish Government Policy of 2023 on increased interconnection and follows Ofgem’s positive IPA decision in November 2024 and support for MaresConnect under the UK Government’s Clean Power 2030 Action Plan. It marks a key milestone for the project and reaffirms the benefits the interconnector will deliver to infrastructure and consumers in both jurisdictions.
The CRU’s announcement recognises MaresConnect’s strategic importance in strengthening cross-border energy security, supporting the integration of renewable energy, enhancing the electricity systems of both Ireland and Great Britain and important downward pressure on wholesale electricity prices in both jurisdictions.
The establishment of Cap and Floor regulation for MaresConnect in both Ireland and Great Britain provides the foundation for a robust economic project, with a clear pathway to operations in 2030. The addition of 750MW of interconnector capacity across the Irish Sea is a significant contribution towards both countries’ 2030 energy targets and underscores the importance of the inter-governmental Energy Memorandum of Understanding (MOU) signed in 2023, which seeks to deepen cooperation on renewable energy and interconnection between Ireland and Great Britain.
“This is fantastic news for MaresConnect,” said Simon Ludlam, CEO at MaresConnect Limited. “The positive minded-to position from the CRU, following Ofgem’s support last year, is a clear endorsement of the project’s value to both Irish and British consumers. With strong regulatory alignment across the Irish Sea, MaresConnect is now well on the path to becoming a reality.”
Pat O’Doherty, Chairman at MaresConnect Limited, added: “The CRU’s support reinforces the progress we’ve made and the strength of the case for MaresConnect. Our team remains focused on delivering this vital piece of infrastructure, which will help accelerate decarbonisation and bring lasting benefits to consumers on both sides of the Irish Sea.”
Richard Thompson, Partner and Co-Manager of Foresight Energy Infrastructure Partners (FEIP), also welcomed the decision. “The CRU’s position affirms the essential role that MaresConnect can play in delivering a low-carbon energy system. It highlights the growing recognition of the importance of private investment in achieving net-zero goals and securing long-term energy cooperation between neighbouring markets.”
MaresConnect will deliver up to 750MW of clean electricity capacity between Ireland and Great Britain, supporting greater market integration and helping both countries meet their 2030 climate and energy targets.
With regulatory support in both Ireland and Great Britain, the MaresConnect project will be able to enter its next phase – moving from planning to implementation and bringing its long-term environmental and economic benefits closer to realisation.
MaresConnect is being developed by MaresConnect Limited, owned by Foresight Energy Infrastructure Partners (FEIP) and Etchea Energy Nominees Limited (EENL).
