Dutch transmission system operator TenneT has announced that it will increase its annual investment in grid infrastructure to at least 6 billion euros by 2025. In 2021, the company will invest 4 billion euros to expand and maintain the grid to meet the challenges of the energy transition.

TenneT also plans to increase investment in the future to support the growth of renewable electricity production and electrification demand. The company said it would also focus on the "smart" use of its grid. Manonvan Beek, CEO of TenneT, said: "While we are working hard to build and maintain our grid for a fossil fuel-free future, the demand for grid capacity is growing rapidly at this time.

“Linear growth alone won’t solve this squeeze, and we’re looking at ways to use our existing grids smarter and investing a lot of time and energy in what’s called systems thinking.” To that end, we’re focusing on more Fast project delivery, proactive planning and innovative solutions. "In this context, I would like to thank the many experts and partners who worked on the development of Target Grid and Wind Power Booster."

TenneT said it was focused on addressing issues such as new grid connection constraints faced by customers and congestion on the Dutch national grid. The company also cited the conflict between Russia and Ukraine and called for greater European cooperation and coordination. Keywords: engineering construction, engineering news

It added that conflict could serve as "an important additional driver for accelerating sustainable energy systems". TenneT reported underlying revenue for the fiscal year 2021 (FY21) of EUR 6.4 billion, compared to EUR 4.45 billion in the same period last year. The company's earnings before interest and taxes (EBIT), which excludes gains from exceptional items, increased from EUR 796 million to EUR 801 million year-on-year.Editor/XingWentao