£4.3bn Eastern Green Link 2 shows multi-phase HVDC placement complexity
Photo: Ein Dahmer, CC BY-SA 4.0, via Wikimedia Commons
EGL2 (SSEN Transmission / National Grid ET) is a 505 km, 2 GW Scotland–England HVDC link largely under the North Sea; Aviva confirmed involvement, and brokers must span manufacturing, marine install, and decades of operation—not a single CAR box. Grid-expansion underwriting is financing-critical: long lead times, specialist repair vessels, and construction-to-operations handover are the risk story, not just capacity.