Baltic Cable & Equitix Acquire Greenlink for €1 Billion
Baltic Cable AB and Equitix have partnered to acquire the Greenlink Interconnector from Partners Group in a deal valued at over €1 billion. The Greenlink Interconnector is a 504 MW high-voltage direct current (HVDC) submarine power cable connecting Ireland and Wales, enhancing energy security and facilitating the integration of renewable energy sources across Europe.
The acquisition marks a strategic expansion for Baltic Cable, which has operated the Baltic Cable interconnector between Sweden and Germany for over 30 years. Equitix, with over a decade of experience in offshore transmission, joins Baltic Cable in this venture, leveraging their combined expertise to drive the continued success of Greenlink.
Greenlink, which became operational in January 2025, is a new HVDC interconnector providing additional import and export capacity between Ireland and the UK. The interconnector is capable of powering approximately 380,000 homes and plays a pivotal role in integrating renewable energy technologies, thereby enhancing grid stability and energy security in both countries.
Partners Group, the seller, had guided Greenlink through its development stages since acquiring a controlling stake in 2019 and full ownership by 2021. The company oversaw the project's financial closure, construction, and initial commercial operations.
"This acquisition aligns with Baltic Cable's strategy to support the clean energy transition and enhance the resilience of Europe's energy system," said Kajsa Hedberg, CEO of Baltic Cable AB. Equitix's Chief Investment Officer, Achal Bhuwania, expressed delight in the investment, highlighting the partnership's commitment to driving Greenlink's success and supporting the integration of lower-carbon energy sources.
The transaction underscores the growing importance of interconnectors in achieving Europe's decarbonization goals, as emphasized by the EU Commission's Affordable Energy Action Plan. With this acquisition, Baltic Cable and Equitix are poised to play a significant role in shaping the future of European energy markets.
