New HVDC Subsea Cables Proposed Between Spain and Italy
Two new privately promoted HVDC subsea interconnector proposals - Apollo Link and IberiaLink -have been advanced for the Spain–Italy corridor, both targeting commercial operation in 2032. The two projects are independent of one another but share the same broad objective: opening a direct power exchange route between the Iberian Peninsula and northern Italy.
Apollo Link is a 2 GW HVDC submarine interconnector that would establish the first direct bidding zone border between Italy North and Spain. The project employs a bipolar HVDC configuration with VSC converters operating at ±525 kV, using a rigid bipole arrangement that runs two converter poles per station without a neutral return path. The proposed route runs between Vandellòs in Catalonia and Marginone in Italy.
The project is being developed by APOLLO-LINK Development & Operations Srl, headquartered in Rome, and is fully financed by private capital. Apollo Link is also included in Italy's national network development plan. Studies published by the project promoter estimate a net annual social welfare gain of up to €860 million for the Italian and Spanish energy systems, with the interconnector also designed to provide grid-forming capability and fast system services to support resilience during critical events.
IberiaLink has a stated capacity of 1.2 GW, also based on bipolar HVDC technology at 525 kV. Its most distinctive feature is its length: the project envisages 1,034 km of submarine cable between southern Spain and northern Italy, which would place it among the longest subsea power cable links worldwide. As with Apollo Link, IberiaLink is structured as a merchant project promoted by private investors and targets commissioning in 2032. Less public technical information has been disclosed about IberiaLink compared with Apollo Link.
The Iberian peninsula is connected to the wider European synchronous area through links with France, Portugal, Andorra and Morocco, with total interconnection capacity of approximately 3 GW — below the European Commission's target of reaching 15% of installed generation capacity by 2030. Red Eléctrica recorded 798 hours of zero or negative day-ahead prices in the Spanish wholesale market in 2025, with hourly minima of -€15/MWh on several days in May. Spain ended 2025 with net electricity exports of 12,794 GWh, a 25.1% year-on-year increase and a fourth consecutive year as a net exporter.
The Bay of Biscay HVDC interconnector, currently under construction between France and Spain, is set to lift Spain–France exchange capacity from approximately 2.8 GW to 5 GW once commissioned. Apollo Link and IberiaLink would, if built, add a new Mediterranean corridor connecting Spain directly to the Italy North bidding zone.
Next Steps
Both projects remain in early stages of development. Subsequent milestones for the developers include further technical and cost-benefit studies, securing permits and environmental authorisations relating to the submarine routing, regulatory agreements on cross-border cost allocation, and financing arrangements.
