Network operator Enexis will receive a €500 million loan from the European Investment Bank (EIB). The money is intended to strengthen and expand the electricity grid in five provinces. The investment comes at a time when the power grid in many places in the Netherlands is becoming or is already full.
With the loan, Enexis plans to upgrade or reconstruct, among other things, 7,500 kilometers of underground cables. The money will also go toward the installation of 370,000 smart meters.
Chief financial officer of Enexis Mariëlle Vogt is pleased with the loan. "The network improvements we can now finance will be carried out in the areas where Enexis operates: the provinces of Drenthe, Groningen, Limburg, Noord-Brabant and Overijssel," she says. "We are pleased that the EIB confirms its commitment to implementing our strategy with this loan."
Grid operator Stedin reported just Wednesday that the power grid in parts of The Hague has reached its maximum capacity. As a result, large-scale consumers in the Hague region will probably not be able to get a connection for the next ten years. TenneT and Enexis reported that a large part of the grid in the provinces of Groningen and Overijssel will also be closed.
Strengthening the power grid is important in view of the energy transition. "This way we prevent energy loss during peak periods of wind or sunlight," explained EIB Vice President Kris Peeters. "Enexis is going to significantly strengthen and expand its network to enable the transition to green energy, we are happy to support that."
