Enexis Receives €500 Million EIB Financing to Upgrade Dutch Power Grid
Major Financing Secured for Dutch Power Infrastructure
Overview of the Financing Deal
July 28 (Reuters) - Dutch electricity and power grid operator Enexis has secured a 500 million euro ($568.5 million) financing facility from the European Investment Bank, both said on Tuesday.
Purpose of the Funding
• Enexis said the funding would support its 2026 electricity grid investment programme, including the expansion and renewal of the network.
Scope of the Grid Upgrades
• The upgrades cover around 4,600 kilometres (2,858 miles) of power lines as well as connected infrastructure, in five Dutch provinces, it added.
Statements from Enexis Leadership
• "The energy transition requires investments on a scale and at a pace we have not seen before," said Marjanne van Ittersum, CFO of Enexis, in a statement.
Challenges Facing Dutch Grid Operators
• Grid operators in the Netherlands have sometimes struggled to keep up with an increase in renewable energy projects, which has been partly fuelled by Europe's ban on Russian gas imports following its invasion of Ukraine, and the surge in data centre demand.
Currency Exchange Rate
($1 = 0.8795 euros)
(Reporting by Sudip Kar-Gupta, Editing by Louise Heavens)