BRUSSELS (Reuters) - The European Union is to provide 578 million euros (500.7 million pounds) to build a power link between Spain and France to carry excess Spanish renewable energy and ease one of Europe's worst network bottlenecks, an EU source said.
The grant will be the EU's largest ever grant for energy infrastructure. Construction of the 370-kilometre (230 mile) Franco-Spanish subsea power cable across the Bay of Biscay, west of the Pyrenees mountain range, will nearly double current power exchange capacity to 5,000 megawatt.
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