TenneT is intending to link 7.1GW of offshore wind capacity in Germany by 2019, more than the government’s target of 6.5GW by 2020.
In 2015, TenneT installed five new direct current (DC) offshore connection systems in Germany, thereby bringing available capacity for transporting wind power produced at sea to 4.3GW.
Due to its investments, the firm reported positive results in 2015. Its earnings before interest and tax grew to €1.075bn in 2015, as against €725m in 2014.
TenneT CEO Mel Kroon said: "It is important to invest effectively and efficiently in high voltage grids that are needed in a society that is increasingly based on the use of electricity.
"We will continue to work hard and to invest to maintain the quality of our existing grid as well as to be able to transport large volumes of renewable energy from new sources."
The Netherlands government intends to appoint TenneT to design, build and manage an offshore grid on the North Sea, which is likely to generate 3.5GW of renewable wind power by 2023.
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By GlobalDataThe firm stated that it grew the cross-border electricity transmission capacity by using a mechanism called flow-based market coupling, thereby bringing electricity prices across Europe closer together.
It has begun development of two new interconnector-projects, which link Germany to Norway (NordLink) and the Netherlands to Denmark (COBRA cable).
These projects will grow the supply of renewable energy in the Northwest European area.
