TenneT speeds up growth to drive sustainable energy system
The Netherlands: TenneT invested a record $4.4 B in the expansion and maintenance of its grids last year, rising to the challenge of the energy transition.
Image for illustration purposes
The Netherlands: TenneT invested a record $4.4 B in the expansion and maintenance of its grids last year, rising to the challenge of the energy transition.
“The unjustifiable attack on the Ukraine teaches us that European cooperation and alignment is now more important than ever. This conflict will undoubtedly be an important additional driver to accelerate a sustainable energy system. Meeting current climate objectives requires fundamental changes to the planning, operation and configuration of the whole electricity system. TenneT is also intensifying the smart use of its grids. Looking ahead, the steep increase in the production of renewable electricity and the electrification of our society means TenneT will increase its output towards a minimum annual investment level of $6.7 B (€6 B) by 2025,” says in a press release from TenneT.
TenneT is already delivering critical projects to drive the energy transition in Europe. For example, commercial operations of the NordLink cable began in 2021, connecting Germany and Norway through a 623 km subsea cable. When electricity prices in Germany are high, due to limited wind or sun, consumers benefit from lower-priced hydroelectric power from Norway. This ‘green link’ can supply more than 3.6 million German households with renewable electricity.
“Even as we work at speed to build and maintain our grid for a fossil-free future, demand for grid capacity in the here and now is also growing fast. Linear growth alone cannot solve this squeeze, and we are looking at many ways to make smarter use of our existing grid as well as investing much time and effort into so-called system thinking. The latter involves holistic solutions and systemic planning for the entire energy system and is a real leap forward for the energy transition. To this end, we are focusing on faster project delivery, proactive planning, and innovative solutions. In this context, I would like to thank the many experts and partners who dedicated themselves to developing the Target Grid and the Wind Power Booster,” says Manon van Beek, CEO of TenneT.
In the coming years, the focus will remain on speeding up the implementation of the project portfolio and working on smart solutions to address congestion issues. Harnessing flexibility for the grid is crucial and the company is working on options such as demand-side response, hydrogen conversion for storage and decentralised flexibility provided by household appliances and electric vehicles.
Source: TenneT
#energy transition#Germany#Renewables#sustainable energy system#Tennet