BAM bags both ends of EGL3 power superhighway
National Grid awarded BAM the contract for the Walpole scheme in Norfolk, part of the EGL3 power superhighway. BAM is also involved in the northern converter station near Peterhead. The total cost for both converters was estimated at £1.2bn. Hitachi Energy is providing converter technology, with a combined deal value of nearly £3bn. The 2GW link will support around two million homes. Construction is set to begin in 2028, with completion expected in 2033.
How this was made
The 30-second read
Why it matters
The award expands BAM's footprint in the growing UK electricity transmission market, likely improving its medium‑term earnings outlook.
Market read
New large infrastructure contract for BAM could drive stock appreciation; sector benefits for UK transmission and renewable energy construction.
What to watch
Potential cost overruns or competition from other contractors on future UK grid projects.
Background
The article announces BAM's new contract for the EGL3 2GW link, part of the UK's plan to expand high‑voltage transmission capacity.
Ticker impact
BAM was awarded the civil engineering contract for both ends of the EGL3 power link, marking a new major win in the UK electricity transmission market.
likely upward pressure as investors price in higher future revenue from the EGL3 project
New large‑scale infrastructure contract, first disclosed in this article, signals growth in a high‑margin sector.
Market effects
strengthens outlook for UK transmission and renewable‑energy construction firms
supports UK infrastructure investment sentiment
adds to global clean‑energy transition narrative
Counterpoint
If the project faces delays or regulatory hurdles, the expected revenue boost could be postponed.
Key entities
- companyBAM
UK construction contractor awarded the EGL3 civil works contract.
- companyNational Grid Electricity Transmission
Joint developer of the EGL3 project.
