TenneT to invest up to $7bn per annum to upgrade power grids in Europe

TenneT, the transmission operator in the Netherlands and Germany, has unveiled plans to invest up to $7.1 billion over the next three to five years to develop the electricity infrastructure for future requirements.

The company has announced investments of $4 billion for European energy transition and system resilience in the last year.

It is also developing new connections, as well as strengthening and expanding its grid and upgrading its system operations to meet the EU's new target to reduce emissions by up to 55% by 2030.

TenneT, along with National Grid Venture, will also evaluate the options to develop a multi-purpose interconnector to simultaneously connect up to 4 GW of British and Dutch offshore wind farms between the electricity systems of both countries.

With support from the German, Dutch and Danish governments, TenneT also aims to establish a joint energy hub in the North Sea to connect three countries.

TenneT stated that 42 ongoing major projects were completed last year and started the construction of two new 380-kV electricity highways in the north of the Netherlands and in the southern Dutch province of Zeeland.

In Germany, the company commissioned a connection in the north to supply renewable energy to Denmark.

TenneT has also taken further steps to advance the SuedLink onshore project, which will help supply renewable energy from the North Sea to consumption centers in southern Germany.

Source: NSEnergy