Dutch/German transmission system operator TenneT increased revenue, earnings and investments last year, despite the impacts of Covid-19.
Revenue reached €4.45bn, up 9% from just over €4.08bn, while earnings before interest and special taxes stood at €910m, rising from €768m in 2019.
Record investments of over €3.41bn were made last year, compared with more than €3.06 in the previous year.
The company said €1.3bn are related to projects in the Netherlands and €2.1bn in Germany.
TenneT said it also delivered the highest level of security of supply of the past five years in 2020.
TenneT chief executive Manon van Beek said: “In 2020, TenneT set new records in terms of security of supply, investments and related financing and resourcing.
“Now, we are ready for a decade full of challenges. We are Europe’s only cross-border TSO, 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.”
TenneT chief financial officer Otto Jager said: “We achieved another year of solid results, in line with the growth of our asset base.
“At the same time, we strengthened our capital base with the issuance of €1bn of green hybrid securities during 2020.
“We will continue a constructive dialogue with our shareholder in 2021, to ensure a durable equity solution for our increasing investment portfolio is implemented in a timely fashion.”