50Hertz to infuse $6.2Bn in offshore grid connections from 2022-2026
Category: #energy-and-environment  By Pranali Mehta  Date: 2022-03-04
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50Hertz to infuse $6.2Bn in offshore grid connections from 2022-2026

The company aims to double last five year’s investment by the end of the decade 

German electricity transmission system operator, 50Hertz Transmission GmbH is planning on investing in grid connections housed on massive offshore wind farms from the Baltic and North Seas.

The connected load of offshore wind farms across these regions is targeted to soar from today’s 1GW to 7GW by 2030.

In a span of five years, from 2022-2026, the company plans on infusing $6.2 billion- twice the investment seen in the last five years from 2017 to 2021- for the development of overhead power lines, land, and submarine cables & substations.

With this, the company is formerly known as Vattenfall Europe Transmission and its employees will contribute significantly to the climate protection goal, whilst ensuring security of supply and will support energy sovereignty.

For a consistent supply of electricity - with larger dependence on renewable sources – across private as well as commercial spaces, a well-equipped and strong grid infrastructure is absolutely essential.

Stefan Kapferer, Chief Executive of 50Hertz, upheld the importance of favorable laws that the Federal Government has introduced, in boosting the expansion of renewable energy plants, which can ultimately help decrease reliance on imported energy sources from a long-term perspective.

However, the efforts of public entities and politicians must also reflect upon another crucial factor in wind and photovoltaic power generation, that is supply of energy to consumption centres, thus urging legislative activities more focused on accelerating network expansion.

Beyond the expansion of renewable energy sources and systems, a key factor fostering growth is the encouraging forecast of the company’s growing requirement for electricity across its own grid area.

Driven by the growing efforts of existing industries to decarbonize processes, the expansion will also see the emergence of new energy-intensive companies in the 50Hertz area due to its greater share of electricity consumption.

Moreover, rapid electrification of the transport and heating sector is expected to amplify electricity consumption and the company estimates a 30%-40% rise in electricity demand in the grid area by 2030.

Source Credit: https://renews.biz/76090/50hertz-to-invest-56bn-in-offshore-grid-connections/

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Pranali Mehta

Pranali Mehta    

Pranali Mehta boasts of over three years of experience as a content writer. Having completed her graduation in chemical engineering, she worked as safety & environment associate in a chemical company for a year. Harnessing her passion for writing however, Pranali deci...

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