Bracewell Hot Takes for the 2026 EMEA Project Finance Sector | Page 10

Advancements in Interconnection and Transmission Projects

The shift to clean energy in both Europe and Africa depends on bold advancements and significant upgrades to their electricity infrastructure. Achieving this goal will demand large-scale investment in new interconnections across borders and comprehensive improvements to existing power grids, enabling greater integration of renewables and supporting future energy needs.
France occupies a strategic position in Europe, with 57 cross-border electricity interconnections linking it to neighbouring countries. RTE is actively expanding this network to enhance the resilience and capacity of the European grid, aiming to double interconnection capacity by 2035. Achieving France’ s energy transition objectives will require urgent modernization of its transmission and distribution infrastructure, with investments estimated at € 100 billion over the next 15 years. RTE is also at the forefront of integrating offshore wind projects, and our team is proud to support several of these initiatives.
However, the energy sector is currently navigating a period of uncertainty due to delays in the adoption of the new PPE( Multiannual Energy Plan), which sets the country’ s medium, and long-term energy policy. These delays, combined with a complex political environment, are impacting investment decisions and the pace of grid development. Despite these challenges, the commitment to strengthening interconnections and advancing the energy transition remains strong.
Bracewell’ s Paris office, launched in 2024 and led by Partners Anne Lapierre, Arnaud Bélisaire, and Simon Cudennec, is dedicated to energy and infrastructure matters. The team continued its longstanding collaboration with INELFE, the French-Spanish transmission system operator joint venture, by advising on contracts for the landmark Gulf of Biscay interconnection project. In 2025, we also assisted RTE with the negotiation and execution of EPCI agreements for offshore substations serving new wind farms in both the Atlantic( off Brittany) and the Mediterranean, as part of the AO5 and AO6 development rounds.
Unlocking the full potential of Africa’ s electricity distribution networks, and achieving lasting energy access, will depend on addressing key hurdles in financing and technical expertise. Our team is proud to assist clients throughout North Africa with the advancement of renewable energy initiatives and the development of transmission infrastructure that links local projects to the broader European grid.
Recent Notable Matters
• French transmission operator— advised France’ s national transmission system operator, on a landmark EPCI agreement for three offshore electrical substation platforms supporting 1.5 GW of new wind farms in the Atlantic and Mediterranean.
• French-Spanish transmission joint venture— supported the joint entity formed by Réseau de Transport d’ Électricité and Red Eléctrica de España on a € 2.5 billion cross-border cable project connecting Gatica( Spain) and Cubnezais( France)
• Weza Power( Anzana)— assisting with the establishment of Burundi’ s first nationwide private electricity distribution network, an unprecedented initiative in sub-Saharan Africa
• Confidential consortium— provided legal counsel for a pioneering hybrid renewable energy development in North Africa, including the structuring of a dedicated HVDC transmission line
The Year Ahead
Transmission and interconnection projects are set for rapid growth, driving new financing needs across the energy sector. We’ re ready to support these developments with tailored solutions, drawing on our experience advising sponsors, lenders and governments on all aspects of transmission, from land and ESG issues to power contracts and financing structures. bracewell. com