Baku, Azerbaijan, April 3. The European
Investment Bank (EIB) has approved a 400 million euro loan to
SachsenEnergie to support the modernization and expansion of
electricity grids in Eastern Saxony, Trend reports.
The investment aims to enhance grid stability and integrate
renewable energy sources.
SachsenEnergie, in collaboration with grid operator
SachsenNetze, plans to invest 732 million euros in network upgrades
by 2027. The EIB’s financial support will help ensure a stable
power supply amid growing electricity demand from businesses and
households.
EIB Vice President Nicola Beer highlighted the importance of
reliable and affordable energy for economic resilience. She
emphasized that expanding renewable energy must be accompanied by
grid modernization to support the energy transition. SachsenEnergie
CEO Dr. Frank Brinkmann stressed the challenges of financing
large-scale grid expansion and acknowledged the EIB as a key
financial partner.
The loan will fund infrastructure projects across Dresden and
the surrounding districts, including Bautzen, Görlitz, Meißen, and
Sächsische Schweiz-Osterzgebirge. Key projects include high-voltage
grid expansions, new substations, and upgrades to Dresden’s
Räcknitz substation, supporting industrial development in the
region.
SachsenNetze aims to upgrade 170 kilometers of high-voltage
lines and expand 20 substations by 2028. Between 2029 and 2033, an
additional 125 kilometers of power lines and 29 substations will be
improved. By 2045, the company plans extensive renovations across
280 kilometers of grid infrastructure.
This investment aligns with the EIB’s commitment to sustainable
energy and climate goals, ensuring long-term energy security and
supporting the green transition in Eastern Saxony.