The MOU covers the pre-feasibility study, financing, construction and operations of the line, which will export wind energy from the Irish midlands to the UK from 2017. Other companies involved in the project include National Grid.
Speaking about the deal, Mainstream’s chief executive Eddie O’Connor said: "We are now putting a team of experts together in order to conduct comprehensive feasibility studies and a business plan.
"This will be the precursor to the companies forming a joint venture to develop, build, finance, own and operate the system. This has never been done anywhere in the world and Mainstream is very excited to be leading such a ground breaking project."
REN chief executive Rui Cartaxo, said: "REN believes this MOU sets the ground for the study of a potentially groundbreaking infrastructure for the future of European energy highways."
Mainstream signs MoU for Ireland-UK line
IRELAND: Mainstream Renewable Power has signed an MOU with Portugal's transmission operator REN to develop a 5GW transmission line between the UK and Ireland.
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