TenneT Germany raises €3.5 billion for electricity grid and renewable energy integration

TenneT Germany has successfully raised €3.5 billion to support its electricity grid expansion and the integration of renewable energy into the broader European network. The company issued its inaugural multi-tranche senior European green bond, marking the largest corporate issuance ever against the European Green Bond Standard Regulation, with backing from the European Investment Bank (EIB).

The EIB committed €74 million across three of the bond's four tranches, which have maturities of 4, 8, 12, and 20 years. The capital raised will finance TenneT Germany's investment program for its electricity transmission grid. This includes the development of high-voltage infrastructure both onshore and offshore, the connection of North Sea offshore wind capacity, and the seamless integration of renewable energy into the European electricity network.

The issuance experienced strong investor demand, reaching a peak oversubscription of approximately 6.3 times. This indicates market confidence in TenneT Germany's strategy and its pivotal role in shaping the future of Europe's energy system. The bonds are listed on the Luxembourg Stock Exchange, signifying TenneT Germany's first access to public debt capital markets.

TenneT Germany projects average annual investments of around €13 billion until 2030 to support the expansion and modernization of Germany's electricity transmission infrastructure. This financing represents a significant step towards ensuring energy security and achieving climate goals in Europe.