TenneT presents Annual Report

21.02.2019

The transition to significantly more solar and wind energy in the power grid continues to have a substantial impact on the business operations of TSCNET shareholder TenneT, the Dutch-German transmission system operator (TSO). The apparent progress made by TenneT in this respect is reflected in the TSO’s just published Integrated Annual Report 2018, which is accompanied by the Green Finance Report 2018. To further advance the energy transition, TenneT focuses on the innovation and optimisation of the existing transmission system as well as on major national and international grid expansions. Manon van Beek, CEO at TenneT, refers to the necessity “to expand and reinforce our grids both onshore and offshore” and further explains: “We must also use the capacity of this infrastructure better, more flexibly and efficiently with the help of technology.”

TenneT again achieved a very good financial result in 2018. On an underlying revenue basis of €4.2bn, the TSO invested €2.3bn (2017: €1.8bn) in the energy transition and security of supply, with remarkable success, as grid availability in 2018 was 99.9988% within TenneT’s control area. And apart from the ensured reliability of the current transmission system, TenneT also wants to guarantee security of supply in the future. Since the energy future cannot be realised without inventive concepts, TenneT was and will be very active in innovation research for a flexible and affordable energy system based on solar and wind energy as well as green hydrogen. Several research projects are currently underway with renowned partners from industry and science.

Especially in terms of wind energy, TenneT is setting standards by reaching a new milestone in Germany and bringing almost 17TWh of offshore wind energy ashore in 2018. TenneT’s total connection capacity for offshore wind farms grew to 6,232MW. The BorWin3 and DolWin6 projects, which will be completed in 2019 and 2023 respectively, will further increase capacity to more than 8,000MW in Germany, while the development of an offshore grid in the Dutch North Sea is also progressing as planned.

Another important operational objective of TenneT is the further integration of the Northwest European electricity market, which is essential for the success of the European energy targets. One of TenneT’s current projects is the Doetinchem-Wesel link between the Netherlands and Germany, which went into operation in September 2018. In addition, the COBRAcable subsea connection between the Netherlands and Denmark has “landed” at the Eemshaven connection point and will be commissioned this year. Also worth noting is the NordLink cable connection currently under construction, which will be the first direct link between the German and Norwegian markets. The 624km interconnector is expected to come on stream in 2021. TenneT will then be operating 16 interconnectors in total.

TenneT presents its Integrated Annual Report 2018 and Green Finance Report 2018 (picture: screenshot taken from video “50 Hertz – The challenge of continuous electricity”, TenneT – Youtube)

Linkup
> See TenneT press release, (html)
> Visit Integrated Annual Report 2018 website (html)
> Open Green Finance Report 2018 (pdf, 2.84MB)