The project, developed by Ireland's EirGrid and France's Réseau de Transport d'Électricité, aims to support renewable energy integration and stabilise electricity prices by enabling the flow of up to 700 megawatts (MW) of electricity between Ireland and France. Moving this electricity across a distance of 575km, with 500km of the cable running under the sea, this interconnector will have the capacity to supply electricity to 450,000 homes. Cable laying has commenced for the long-awaited €1. 62bn Celtic Interconnector project, which will create Ireland's first interconnection with mainland Europe.