TenneT invested €904m in the first half of 2018 in high-voltage grids in the Netherlands and Germany as part of plans to connect 11.5GW of offshore wind capacity by 2030.
Investments this year were up 20% on the €750m invested in the same period last year, the transmission system operator said in its half year results.
TenneT said 3.5GW of offshore wind will be connected in the Netherlands in the period up to and including 2023.
It is currently working on 10 offshore links in Germany that will have total capacity of 5332MW and by 2027 will have increased transmission in the German North Sea to over 8GW.
The company reported underlying revenue of €1966m in the first six months of 2018, the same figure as in 2017.
However, earnings before interest, taxes, depreciation and amortization declined to $699m this year from €796m last year.
Tennet said the fall was mainly down to regulatory changes in the Netherlands related to reimbursement payments for ‘system services’.
The company said it was preparing tenders in Germany for the 700km SuedLink and 580km SuedOstLink projects, which will have a combined capacity of 6GW.
The projects will be operational from about 2025 and will transport wind power from north Germany to the south of the country.
TenneT chief executive Mel Kroon said: “The energy transition is gaining momentum, also in the Netherlands. While the Netherlands has been trailing behind Germany until now, it is expected to catch up soon.
“This will create an entirely new situation in which TenneT, market parties and end consumers of electricity will be dealing with large-scale, weather-dependent generation of wind and solar energy.
“This not only requires the construction of new infrastructure – such as grid connections for many offshore wind farms and high-capacity onshore connections – but also the development of innovative hard- and software systems for real-time coordination of the variable supply of green electricity.
“With its central position in the energy transition and in collaboration with all its stakeholders TenneT can look forward to a fantastic challenge.”
Image: TenneT
TenneT accelerates offshore drive
By EBS