Netherlands

Netherlands

Offshore investment drives Tennet earnings

NETHERLANDS: Grid operator Tennet has posted earnings of EUR 368 million, up from EUR 237 million in the first half of 2014, following investments in offshore wind.

Tennet's HelWin 2 platform was installed in H1
Tennet's HelWin 2 platform was installed in H1

The 55% increase in earnings was attributed to its investment in German offshore projects and a growing asset base.

Tennet installed three converter platforms for offshore projects in the German North Sea: BorWin 2, HelWin 2, and SylWin 1 – a total capacity of 2.35GW. Each platform should be operational in 2015.

Its investment in Geman offshore also includes connection to the 108MW Riffgat project.

The Dutch transmissions specialist also agreed a deal with the country's government to construct an offshore grid network connecting the 3.45GW planned projects to the grid in a structured and standardised approach.

In February, Tennet sold a 67% stake in its 900MW DolWin 3 to infrastructure fund Copenhagen Infrastructure Partners (CIP) for EUR 366 million.

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Windpower Offshore Events

Latest Offshore Wind Jobs

Latest Offshore Wind Jobs