EIB signs €250m loan for TenneT offshore wind transmission
The EIB has signed a €250 million loan with TenneT Holding to finance the western section of TenneT’s Zuidwest 380 kV offshore wind transmission project. The deal will support the construction of a new 380 kV transmission line – combined with a 150 kV line for part of the route - from the substation at Borssele to a new substation at Rilland.
One of the main reasons for the upgrade is the ongoing growth of offshore wind power generation capacity off the Dutch southwest coast, as part of the 1.4 GW Borssele Wind Farm Zone. The new grid connection will stop congestion on the high voltage grid once the wind farms are in operation
The deal increases total EIB lending commitments to TenneT to €1.8 billion, all of which are provided for the upgrading and expansion of TenneT’s electricity transmission networks in the Netherlands and Germany as well as interconnectors.
