* Lack of interconnector regulation added to decision
* Developers not seeking new partners for now
* Nat Grid, Statnett Norway cable going ahead as planned
LONDON, March 5 British power utility SSE
has dropped out of a project to run a 1,400-megawatt
interconnector cable between Britain and Norway and would focus
on investing in its core markets instead, the company said on
"SSE has today announced that it will no longer have a
financial involvement in the NorthConnect project," the utility
said in a statement.
It said it wanted to focus on its markets in Britain and
Ireland instead, where it plans to invest in power generation
and distribution and added that a lack of clarity on
interconnector regulation contributed to its decision against
the cable project.
Other members of the project, Sweden's Vattenfall
and Norwegian companies E-CO Energi, Agder Energi and
Lyse, said they were not seeking a replacement partner
but remained fully committed to installing the NorthConnect
cable, which is expected to go live in 2020.
SSE had a 25 percent stake in the project.
"For the time being, we will not look for new partners,"
said Christian Altmann, a spokesman for Agder Energi.
A second project for a 1,400 MW interconnector between
Britain and Norway, led by the countries' network operators
National Grid and Statnett, was continuing as
planned, the developers said on Tuesday.
The British government is counting on the construction of
further interconnectors to help the country meet future
Britain is already connected to France, Ireland and the
Netherlands and is assessing other links to Belgium and Denmark.
SSE also said it plans to make an announcement in the coming
weeks on selling its Swedish interests, which includes 295 MW of
projects in development.