- Published: 10 March 2020 10 March 2020
The European Investment Bank (EIB) has signed a € 250 million loan agreement with TenneT Holding. The financing will be used for the western section of TenneT’s “Zuidwest 380 kV” project, which will enable the transmission of growing amounts of offshore wind energy to users in the Netherlands and beyond.
In its entirety, the Zuidwest 380 kV project also supports increased connectivity of European electricity markets. Specifically, the EIB financing 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 allow for the avoidance of congestion on the high voltage grid once the wind farms are in operation and will facilitate transfer of green, offshore electricity to demand centres.