Amprion, a transmission system operator, has set a new record for investments in the completed financial year, reaching around 1.5 billion euros. The company plans to invest around 22 billion euros in the transmission grid over the next five years.
These investments aim to address the accelerated expansion of renewable energy and the transformation of the energy system. Amprion aims to focus on expanding the important north-south direct current corridors on land and the implementation of its first four offshore grid connection systems.
With the acceleration targets set by the German government, Amprion has awarded the world’s first two-gigawatt offshore grid connection systems, BalWin1 and BalWin2, and intends to commission them two and three years earlier than initially planned, in 2029 and 2030, respectively. For the underground cable project from Rastede to Bürstadt (DC 34), the company intends to submit the planning approval documents by mid-2024, an acceleration of two years.
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To achieve these goals, Amprion continues to grow, with the number of employees rising by 8.5 percent in the past financial year to 2,237 employees (FTE). The company plans to hire up to 400 further employees this year, corresponding to growth of around 18 percent.
Amprion’s revenues in accordance with IFRS rose by 36.6 percent year-on-year to around 3.5 billion euros, with revenues from the grid business, its core business, increasing by 18.6 percent to around 2.1 billion euros.
Amprion’s successful issue of the company’s first green dual-tranche bond last year demonstrates the focus on stability and flexibility for financing increasing investments. Supportive regulatory conditions are also important prerequisites for the company’s growth course. Together with flexible debt instruments, Amprion is well prepared for the necessary investment needs.
Amprion is on a successful and stable growth path, focusing on stability and flexibility for financing increasing investments. The company is well prepared to address the accelerated expansion of renewable energy and the transformation of the energy system with a focus on the expansion of the grid infrastructure.
