EIB Supports Sustainable Energy Transition In Reutlingen With €70M Loan

1/14/2025 5:08:43 AM

(MENAFN- Trend News Agency) BAKU, Azerbaijan, January 14. The European Investment bank (EIB) is providing 70 million euros in financing to Stadtwerke Reutlingen to support its extensive Network investment plan aimed at modernizing the city's electricity infrastructure, Trend reports.

The funding will primarily focus on updating the electricity grids, replacing outdated power cables, and installing new overhead lines by the end of 2027. Substations will also be modernized, and new components will be added to enable automation and digitalization of grid control.

These upgrades are crucial for accommodating the increasing number of local solar and wind power producers, as well as enabling the connection of heat pumps and electric vehicle chargers. The project is part of a broader effort to support the digital transition and ensure a reliable and efficient power supply.

As part of the Federal Network Agency's findings, Germany requires 327.7 billion euros in investments for its electricity grids by 2045 to meet rising electricity demand and integrate more renewable energy. This includes the modernization of municipal utility networks and the need to "smarten" distribution grids to handle increased loads and improve connectivity.

In Reutlingen, the plan also includes expanding the district heating network to replace fossil-fuel-based heating systems, offering more residents access to clean energy.

EIB Vice-President Nicola Beer highlighted the importance of investing in grid infrastructure: "Our electricity grids need to be more modern and efficient to support the rapid growth of renewable energy and rising electricity demand in an electrified world."

Jens Balcerek, Managing Director of Stadtwerke Reutlingen, acknowledged the role of EIB support: "This financing helps us expand both our electricity grid and district heating network, improving energy access for the region in a sustainable manner."

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