A new submarine cable project in northern Europe got some important new backing yesterday. According to Capacity, Celtic Norse now has three new owners from the Energy vertical. NTE, TrønderEnergi and Nordavind DC Sites AS have each bought a third of the company.
Celtic Norse's plans call for a 2,000km cable between northwestern Ireland and central Norway. The idea is to connect up with the AEC-1 cable system there, providing a faster path to the USA and bringing reliable big bandwidth to parts of Norway with ambitions to make a play for some data center business with locally produced green energy. It's a second project aiming to hook up Norway more directly to global markets, the other being Bulk Infrastructure's piece of the Havfrue cable system which will land in southern Norway.
Celtic Norse hopes to have their cable built sometime in 2021. But there are still a few steps to go before then, as today's funding is just the piece that will see them through the development phase.
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