TenneT increases grid investment to €4.6bn
TenneT has announced an increase in its grid investment to €4.6bn in the first half (H1) of 2024 due to higher spending on its 2GW offshore wind programme.
The company increased its investment by €1.1bn from €3.5bn in the same period last year.
One of Europe’s largest transmission system operators (TSOs), TenneT said it advanced the speed of its projects to provide sufficient grid capacity for its customers and prepare the grid for a cleaner energy system.
The TSO said increased investment in its fixed assets allowed it to maintain a high degree of grid availability in H1 2024.
TenneT is planning significant onshore and offshore grid expansion across Germany and the Netherlands by 2045.
Manon van Beek, chief executive of TenneT, said to reNews: “In order to achieve the climate milestones in 2030, 2045 and 2050 and to be able to meet the needs of our customers, we are fully promoting the electrification of industry, businesses, households, hospitals and public transport by providing new infrastructure.
