Dutch-German transmission system operator TenneT is to spend €28bn over the next decade to keep pace with the growth of renewables.
In its 2017 annual report, the company said it will significantly expand cross-border interconnectors between the Netherlands, Germany and other countries to add flexibility to Europe’s electricity system.
Projects include the COBRAcable between the Netherlands and Denmark due to be operational next year and NordLink subsea high-voltage cable between Germany and Norway slated to be online in 2020.
“TenneT’s work to develop a grid that can accommodate even larger quantities of renewable energy is more important than ever,” the company said.
“This will also have positive effects on price harmonization, the exchange of renewable electricity, and the security of supply in the countries involved,” it added.
The company spent on infrastructure €1.77bn in 2017, of which €736m was invested in the Netherlands and €1.03bn in Germany.
In 2017, TenneT transported a record 16 terawatt-hours of wind generated in the German North Sea.
TenneT’s 2017 revenues rose to €3.95bn from €3.28bn the previous year, with earnings before tax and interest rising to €897m in 2017 from €834m.
Image: BorWin2 platform for TenneT (Siemens Gamesa)
TenneT maps €28bn RE spend
By EBS