TenneT Holding B.V., a European electricity transmission system operator (TSO) with activities in the Netherlands and in Germany, expects to invest $39.1 billion (€35 billion) in offshore and onshore grid connections across the Netherlands and Germany over the next ten years, in an effort to drive the energy transition.

Last week TenneT also announced $1.4 billion investment supported by five banks, which will be used for green projects in the Netherlands and Germany to connect large scale of offshore wind to the onshore electricity grid.

Approximately 80 percent of TenneT's investments are related to renewables, such as wind and solar energy. In the period up to 2030, the company expects to have realized approximately 25 gigawatts of connection capacity for offshore wind farms in the Dutch and German parts of the North Sea, transmitting electricity sufficient to power every year 31 million households for a full year, the company announced on its website.

Source: TenneT