TenneT signs $2.75 bln electricity deal with BAM, others (updated)

Koninklijke BAM Groep NV

15/08/2024 07:18

(Adds detail, paragraphs 4-5)
       AMSTERDAM, Aug 15 (Reuters) - Dutch grid firm TenneT
 IPO-TTH.AS  on Thursday said it had signed a deal worth 2.5
billion euros ($2.75 billion) with construction companies
including Koninklijke BAM  BAMN.AS  to help expand above-ground
high-tension transmission lines.
    The four-year deal includes private firms VolkerWessels and
Strukton. 
    TenneT said the expansion was needed to support the
country's burgeoning solar panel and wind power generation.
    TenneT expects to invest 60 billion euros ($66.07 billion)
in the country's high-tension network over the coming decade,
creating 400 kilometres of new lines. 
    The deal announced on Thursday covers major preparatory work
including laying foundations for 1,500 masts and building access
roads.  
    ($1 = 0.9081 euros)

 (Reporting by Toby Sterling; editing by Sonali Paul and Jason
Neely)
 ((toby.sterling@thomsonreuters.com;))