KfW IPEX-Bank finances expansion of Berlin's electricity grid with €250 million
KfW IPEX-Bank is providing up to €250 million to BEN Berlin Energie und Netzholding GmbH for the modernization and expansion of Berlin's electricity distribution grid. The financing supports the energy transition and digitalization.
Frankfurt – KfW IPEX-Bank is providing financing of up to €250 million to BEN Berlin Energie und Netzholding GmbH (BEN) to support extensive investment in Berlin’s electricity distribution network, operated by its subsidiary Stromnetz Berlin GmbH.
The financing will contribute to the modernization, reinforcement, and needs-based expansion of the capital’s power grid as Berlin prepares for growing electricity demand associated with the energy transition, digitalization, and the increasing electrification of transport. The investments are intended to create additional grid capacity for the connection of renewable energy sources, data centers, and electromobility infrastructure.
BEN plans to invest approximately €3.6 billion in strengthening and expanding Berlin’s grid infrastructure by 2030. The KfW IPEX-Bank financing forms part of this larger program. The expansion is necessary to ensure the network can accommodate increasing and changing electricity flows as Berlin advances its climate objectives and more sectors shift toward electrification.
The investment programme will also help prepare Berlin’s electricity network for increasing demand from data centers and the growth of electromobility. This marks the second financing provided by KfW IPEX-Bank to BEN since Stromnetz Berlin was returned to municipal ownership in 2021, reflecting continued cooperation between the organizations.