TenneT to invest up to €4.6bn in new transmission infrastructure

Dutch transmission system operator TenneT is looking to invest up to €4.6bn in thousands of kilometers of new transmission infrastructure across the Netherlands and Germany as it looks to update the grid. 
 

TenneT CEO Manon van Beek said: “To achieve the 2030, 2045, and 2050 climate milestones and meet our customers' immediate needs, we fully facilitate the electrification of industry, businesses, homes, hospitals, and public transport by delivering new infrastructure. According to plan, we will further scale up our investments in expanding and maintaining the network on land and at sea in 2024. Not investing in the power grid is not an option as the social and economic cost of grid congestion, redispatch cost, and not having access to electricity are much higher than the grid investments required.”

TenneT’s CFO Arina Freitag said: “TenneT has started preparations for alternative financing. In the meantime, TenneT and the Dutch state have agreed upon a €25 billion ($27bn) shareholder loan facility to support the planned investments in the Netherlands and Germany for 2024 and 2025.”