AMSTERDAM (Reuters) - Dutch state-owned power grid company TenneT expects to invest about 200 billion euros ($216 billion) through 2034 in strengthening its Dutch and German grids, it said on Thursday
TenneT to Invest €200 Billion in Dutch and German Power Grids by 2034
AMSTERDAM (Reuters) - Dutch state-owned power grid company TenneT expects to invest about 200 billion euros ($216 billion) through 2034 in strengthening its Dutch and German grids, it said on Thursday.
TenneT said investments exceeded 10 billion euros in 2024 as it worked to reduce congestion and expand grids to accommodate the massive amounts of solar and wind power needed to shift away from fossil fuels.
The company and the Dutch state said they are still seeking alternative solutions for long-term financing of its German operations after a sale to the German government last year foundered on Berlin's budget strains.
TenneT has completed separation of the businesses in the Netherlands and Germany, it said, adding that it would continue to raise debt and equity to maintain the pace and scale of investments and safeguard its financial health.
Last year the company and its owner agreed on two loan facilities totalling 44 billion euros to finance investments in the Netherlands and Germany through 2026.
($1 = 0.9255 euros)
(Reporting by Bart Meijer; Editing by David Goodman)
