Europe | July 28, 2025

TenneT invests $6.4 B to boost grid

TenneT invested $6.4 B (€5.5 B) and launched initiatives to accelerate grid expansion and optimise grid use in H1-2025.

 

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Image for illustrative purposes

The Netherlands: TenneT has ramped up its efforts to modernise and expand electricity infrastructure, investing $6.4 B (€5.5 B) in the first half of 2025, up from $5.4 B (€4.6 B) in the same period last year. The increased figure reflects progress in multiple onshore projects, despite ongoing delays. TenneT aims to invest $234 B (€200 B) in the Dutch and German grids by 2034.

Underlying revenue rose to $5.1 B (€4.4 B), up $420 M (€359 M) from H1-2024, driven by a growing regulatory asset base and increased activity both onshore and offshore. EBIT also grew significantly to $1.72B (€1.47 B), partly due to the sale of subsidiary NOVEC.

Since 1 January 2025, TenneT operates through two independent subsidiaries – TenneT Netherlands and TenneT Germany – under the umbrella of TenneT Holding. In Germany, financing options under review include a private share placement or an IPO, with a final decision expected in September.

In the Netherlands, TenneT completed key grid reinforcements in Zeeland and installed the topside for the Hollandse Kust (west Beta) offshore platform. Still, several projects faced setbacks due to extended permitting and long component lead times. A new acceleration package developed with the Ministry of Climate aims to shorten project timelines and tackle grid congestion.

In Germany, construction began on the Hardebek substation and the Netzbooster project. Offshore, new converter platforms for BorWin 5 and DolWin 5 pushed transmission capacity in the North Sea close to 10 GW. With solar capacity exceeding 100 GW, TenneT is implementing measures to enhance grid flexibility and resilience.

Innovations like Time-Dependent Transmission Right (TDTR) contracts and Dynamic Line Rating (DLR) are helping TenneT unlock up to 30 % additional grid capacity during off-peak times.

TenneT continues to advocate for policy continuity in energy planning, especially amid political uncertainty in the Netherlands. The company highlighted the urgent need to maintain momentum in offshore wind development, essential for Europe’s clean and secure energy future.

Source: TenneT