Brussels, 06/10/2011 (Agence Europe) - The €350 million loan from the European Investment Bank (EIB), signed in Perpignan on Thursday 6 October with the French network RTE and Spanish REE, has sealed financing of €700 million for a very high voltage link between France and Spain. This should strengthen the electric interconnection between the two countries and double their electricity exchange capacity from 1,400 to 2,800 Megawatts. This is the first high voltage electricity link in Europe to use innovative “voltage source converter” technology, which can very rapidly convert alternating current into direct current. The link, which is 64.5 km long (31 km in Spain and 33.5 km in France), will cross the Pyrenees by a tunnel 8.5 km long, in parallel to the TGV Perpignan-Figueras line. It is the fifth interconnector between France and Spain, the first built 30 years ago, and the project has come under strong local opposition. The line is due to be operational in 2014. The EU is committed to the project with funding of up to €225 million, as part of the 2008 relaunch programme. (EH/transl.jl)