News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexCryptocurrenciesCybersecurityPress Releases

Grid operator TenneT to invest 22 billion euros in Netherlands

07/05/2022 | 12:02pm EDT

AMSTERDAM, July 5 (Reuters) - TenneT, the German/Dutch grid operator, said on Tuesday it plans to invest a combined 22 billion euros ($22.5 billion) in developing the Dutch electrical grid onshore and offshore over the next decade.

In a statement, the company said it had published an updated version of its investment plans in the Netherlands as it struggles to double capacity to cope with strong industrial demand and the rollout of wind turbines and solar parks.

"This has major consequences for the electric network and on TenneT's investment plans," chief operating officer Maarten Abbenhuis said in a statement.

The company says it will invest 13 billion euros in the Dutch high tension electrical network on land, in addition to 9 billion euros in sea infrastructure.

TenneT, which is owned by the Dutch government, is the largest grid operator in Germany, as well as in the Netherlands.

Last month, it announced plans for a 30 billion euro tender for companies to help it build sea-to-land connections for offshore wind farms planned in Germany and the Netherlands. ($1 = 0.9761 euros) (Reporting by Toby Sterling; editing by Barbara Lewis)


© Reuters 2022
Latest news "Economy & Forex"
02:01pCuba tames its largest fire, fuel depot locals begin to return
RE
02:00pU.S. July budget deficit down 30% as COVID spending falls, revenues edge up
RE
01:59pUkrainian finance ministry says debt freeze deal is 'a testament…
RE
01:40pCargill fiscal 2022 revenue jumps 23% to record $165 billion
RE
01:34pLIKE A SCENE FROM 'PARASITE' : Floods lay bare social disparity in South Korea
RE
01:32pHungary needs double-digit interest rates to curb inflation -central banker
RE
01:25pCOLUMN - DEEP U.S. CURVE INVERSION HASTENS THE RECESSION IT PREDICTS : McGeever
RE
01:12pBoE's Pill sees no return for QE, at least for some years
RE
01:12pFires rage in southwestern France amid new heatwave
RE
01:11pMeta raises $10 billion in first-ever bond offering
RE
Latest news "Economy & Forex"