TenneT pledges impressive investments

09.03.2017

Stable financial results and an ongoing commitment to the success of the energy transition: These are the landmarks of TenneT’s business year 2016 presented in the company’s integrated annual report. Moreover, the Dutch-German transmission system operator (TSO) and TSC member is contented to report that its high-voltage grids in the Netherlands and Germany achieved a high supply security of 99.9999 percent uptime in 2016.

TenneT invested nearly €1,85m in tangible fixed assets in 2016. Above all, offshore facilities could benefit from this significant high level of investments. This is hardly a surprise, since last year the Dutch government appointed TenneT the Netherlands’ offshore grid operator, while in the German part of the North Sea, nine offshore grid connections are currently operated by the Dutch-German TSO. To cover the investments in the transmission of sustainable energy, TenneT successfully issued a total of €1.5bn of green bonds in 2016. A further major concern is the increase in cross-border transmission capacity, and TenneT has achieved excellent results also in this field.

TenneT’s plans for the future are accordingly ambitious. The company intends to invest €25bn in grid infrastructure in the Netherlands and Germany over the next ten years in favour of future regional and supra-regional supply of renewable energy. Commenting the figures, TenneT’s CEO Mel Kroon particularly emphasised, that in order to fully exploit the northwest European potential of sustainable energy, “innovations, partnerships and international cooperation” are of the highest importance. “In 2016, we have taken effective steps in all of these areas and we will continue to do so in the years to come.”

> See TenneT press release (html)

Picture: TenneT

.

TenneT pledges impressive investments