The new connection, to be completed in late 2005, will double the amount of power able to be transferred between the two countries to 1,400 MW. The project is to be financed equally by the clients, state power company Office Nationale de L'Electricite (ONE) and Spanish electricity distributor Red Electrica de Espana (REE). Spain and Morocco established the first sub-Mediterranean 350-MW interconnection in 1998 to export power generated at the Jorf Lasfar plant.