Germany needs $325 bln of power grid investments by 2050, KfW says

Elia SA

09/07/2024 07:49

FRANKFURT, July 9 (Reuters) - Germany needs investments
of around 300 billion euros ($325 billion) by the middle of the
century to equip its power grids for decarbonisation, state bank
KfW  KfW.UL  said on Tuesday.
    "The necessary expansion of renewable energies makes
suitable and flexible transmission and distribution networks
necessary and requires high investment," KfW said at a capital
markets conference at its headquarters in Frankfurt.
    "The means for that cannot come from public funds alone but
must for the larger part be mobilised via private investors or
the capital market," it added.
($1 = 0.9238 euros)

 (Reporting by Vera Eckert and Christoph Steitz, Editing by
Friederike Heine)
 ((vera.eckert@thomsonreuters.com; +49 30 2201 33654;
@EckertVera;))