Germany’s Power Grid Overhaul to Cost Billions More Than Expected
- Network cost may rise more than 50 percent to $59 billion
- Upgrade needed as Merkel seeks 65% share for green power
This article is for subscribers only.
Germany’s plan for new power cable “autobahns” to take wind and solar energy from the north to the south of the country is set to cost billions more than envisaged.
The grid upgrade will cost as much as 52 billion euros ($59 billion), 53 percent more than was budgeted for in 2014, the companies building the north-south high-voltage links said in a joint statement. Two more of the super cables are needed on top of the three already planned in order to meet the government’s new green power targets, the builders said.