In a decisive step towards modernising power grids and efficiently integrating renewable energy, the European Investment Bank (EIB) has granted a €400 million loan to SachsenEnergie. This investment will support the expansion and digitalisation of electricity infrastructure in Eastern Saxony, ensuring a stable supply for households and industries.

The €732 million investment plan until 2027 will enhance the grid’s capacity to integrate a greater share of renewable energy, a key factor in the energy transition. “Reliable and affordable energy availability is essential for international competitiveness and economic resilience. The growth of renewables must go hand in hand with modern, efficient grids,” said EIB Vice-President Nicola Beer.

A sustainable energy future

The strengthening of Eastern Saxony’s electricity network includes modernising substations, optimising 170 kilometres of high-voltage lines by 2028, and expanding the medium-voltage system. These measures will improve supply stability and facilitate the integration of clean energy sources such as solar and wind power.

Dr Frank Brinkmann, Chairman of SachsenEnergie, highlighted the significance of this financing: “Stable power grids are the backbone of the energy transition. Having reliable financial partners like the EIB is crucial to meeting the growing electricity demand and transforming the sector.”

Commitment to decarbonisation

The EIB’s support aligns with the European Union’s climate goals, which aim to reduce reliance on fossil fuels and increase renewable capacity in the energy mix. Modernising grids is a crucial step towards optimising storage and distribution of clean energy, ensuring a more resilient and sustainable electricity system.

This investment reinforces Germany and the EU’s commitment to the energy transition, ensuring that electricity infrastructure is prepared for a future driven by renewable energy.