TenneT to invest up to €5bn a year into energy transition
TenneT has unveiled plans to spend up to $5.96 B (€5 B) every year to build the electricity infrastructure needed for the energy transition.
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The Netherlands, Arnhem: TenneT has unveiled plans to spend up to $5.96 B (€5 B) every year to build the electricity infrastructure needed for the energy transition.
The largest grid operator in the Netherlands and Germany, which has invested $4 B (€3.4 billion) last year to prepare European grids for the uptake of renewables, will explore with the National Grid Ventures the development of an interconnector to connect up to 4 GW of British and Dutch offshore windfarms between the two nations’ electricity systems.
TenneT will also work with the German, Dutch and Danish Governments, to develop a joint energy hub in the North Sea connected to these three countries.
TenneT Chief Executive Officer Manon van Beek said: “Now, we are ready for a decade full of challenges. We are Europe’s only cross-border transmission system operator, firmly embedded in Northwest Europe with unique access to a vast amount of North Sea wind power. As such, TenneT has a key role in the growing European cooperation needed to facilitate the transition to a net zero carbon world. This requires new concepts, new partnerships and swift action to create a more integrated and affordable European energy system.”
Source: Energy Live News