EIB backs Germany’s energy transition plan with €70m

The European Investment Bank (EIB) provided €70 million in financing to Germany’s Stadtwerke Reutlingen for an extensive network investment plan aimed at modernising electricity grids and expanding the district heating network.

The investment will fund the replacement and installation of power cables, overhead lines, and substation upgrades by 2027. It will also support the integration of renewable energy sources, heat pumps, and EV chargers, as well as enhance grid automation and digitalisation.

The project aligns with Germany’s goal to invest €327.7 billion in electricity grids by 2045 to meet increasing energy demands and support the renewable energy transition. In Reutlingen, expanded district heating will reduce reliance on gas and oil systems, furthering decarbonisation efforts.

EIB Vice-President Nicola Beer emphasised the need for modernised infrastructure to meet the challenges of electrification and renewable energy expansion.

Jens Balcerek, Managing Director of Stadtwerke Reutlingen, highlighted the project’s role in delivering sustainable, reliable energy for the region’s residents and businesses.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama