London, March 30, 2026, 15:18 BST
- National Grid locked in £3 billion worth of supply-chain deals for Eastern Green Link 4, signing Siemens Energy for converter stations and Prysmian for cables. 1
- The 2-gigawatt connection running from Fife to Norfolk is scheduled to start major construction in 2028, with completion targeted for 2033—pending planning approval. 1
- Just weeks ago, National Grid lifted its FY31 investment target to a minimum of £70 billion. 2
National Grid plc on Monday announced it had secured £3 billion worth of supply-chain deals for Eastern Green Link 4, its planned 2-gigawatt subsea connection between Fife and Norfolk. Siemens Energy landed the converter-station contract, following an earlier £2 billion cable package awarded to Prysmian. 1
This matters for Britain, which needs extra network capacity to send Scottish wind power south, unclog bottlenecks, and rein in mounting constraint costs—fees that stack up when electricity can’t reach demand centers. Back in December, Reuters reported that Britain revamped its grid-connection process as the queue swelled with over 700 gigawatts of projects. 1
The timing comes as National Grid ramps up a broader spending drive. Just earlier this month, the company boosted its five-year investment target to not less than £70 billion through FY31—roughly £31 billion of that earmarked specifically for UK electricity transmission. The move, National Grid says, is a response to growing demand tied to decarbonisation, electrification, and a surge in AI-powered data centres. 2
National Grid stock gained roughly 2% in London trading, Reuters market data showed. 3
Siemens Energy landed contracts Monday to deliver a pair of high-voltage direct current (HVDC) converter stations—one planned for Fife, another for Norfolk. These stations, essential for shuttling electricity across long distances while minimizing power loss, will anchor a route stretching about 640 km, mostly beneath the sea, before the current is shifted back to the land grid. 1
Britain’s east coast is set for five subsea projects, including a 2-GW link aiming to deliver renewable power to over 1.5 million homes. The main build, if planning goes through, is expected to kick off in 2028. Target for completion: 2033. 1
James Goode, who heads up the Eastern Green Link 4 project, pointed to the awards as evidence of both “scale and momentum” as the initiative shifts to the delivery stage. Darren Davidson, Siemens Energy’s UK vice president, described the effort as “critical” for reinforcing the grid and increasing flows of renewable power between Scotland and England. 1
Iberdrola’s ScottishPower just landed a contract after securing £600 million in National Wealth Fund financing for EGL4 last week. Oliver Holbourn, chief executive of the fund, said the move is about keeping the energy system “fit for the future.” Keith Anderson, ScottishPower CEO, called these “critical investments” that sit at the heart of Britain’s Clean Power 2030 plan. 4
Even so, hurdles remain. EGL4 still needs planning approval, and National Grid has highlighted regulatory calls, financing expenses, and reliance on external parties as potential risks ahead. Earlier this month, Reuters noted that rising borrowing costs and sluggish permitting have begun to drag on segments of Europe’s green-energy expansion. 1
Yujnovich, speaking earlier this month, called the group’s strategy “disciplined execution, at scale.” The newly announced awards aren’t the final word on delivery. Still, they mark a tangible step for investors, as National Grid pushes to convert its record capital plan into real assets. 2
