Final Report: Regulatory and Financing principles for a Meshed HVDC Offshore Grid

Planning, developing and implementing a Meshed Offshore Grid (MOG) in the North Sea is a challenging endeavour. It requires substantial coordination among stakeholders to design and implement a sound legal and regulatory framework, system of governance and raise sufficient funding, as well as construct and operate the network. This process may take several years and any delays in decision making could reduce the net benefit a MOG could achieve. It is therefore crucial that decision makers at both EU and national level commit to cross-disciplinary cross-border coordination and cooperation in order to capture the full benefits of a North Sea MOG.

This report is the end of three years of research into the requirements of the legal, economic and financial frameworks that could facilitate the cost-effective construction and governance of a MOG. This research is part of the wider PROMOTioN (Progress in Meshed HVDC Offshore Transmission Networks) project, which has also sought to overcome the technical barriers to meshed High Voltage Direct Current (HVDC) networks and assess the relative costs and benefits of meshed offshore grids.

The intention of this deliverable is to summarise the legal, economic, governance and financing issues related to such a unique infrastructure and make recommendations on next steps to develop the necessary frameworks. Further detail on these topics can be found in deliverables D7.2 (Legal Framework), D7.4 (Economic Framework), and D7.6 (Financial Framework). In addition, this document presents new analysis on the system operation of a meshed offshore grid.

You can access the full paper in our results section here.