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High ambitions as Amprion works with energy transition

People construction electricity grid in Germany.
Source: Amprion

In an interview with SEB, Matthias Dürr and Patrick Wang from German electric transmission system operator Amprion discuss their banking relationship, the energy transition and the challenges that come with it.

The transformation of the European energy market into a climate-friendly and safe ecosystem is currently underway. This requires a major change in thinking and a considerable investment. One of Germany's biggest challenges is distributing wind energy from the north to the south, where many companies are based. The electricity transmission system needs to be expanded and improved to do this.

“The German government has realised what is necessary: grid expansion and the acceleration of administrative processes are right at the top of the agenda. And that's a good thing,” says Matthias Dürr, Head of European Affairs and Sustainability Management at the company.

Amprion is one of the companies responsible for the extra-high-voltage grid in Germany. The company provides electricity to 29 million people. They have launched a plan worth around 22 billion euros by 2027 to drive forward the energy transition.

Amprion is focused on three strategic areas: securing financial resources, procuring materials, and recruiting personnel. They are working closely with legislators, customers, and investors to ensure they have the right conditions to make the energy transition successful.

“We are expanding the grid in line with demand to integrate renewables. The grid is a prerequisite to connecting wind farms and transporting these renewables where needed,” says Patrick Wang, Head of Investor Relations.

To achieve their goals, Amprion has published a 10-point plan that outlines what is necessary from a technical perspective to achieve the coal phase-out by 2030.

Amprion has also made progress in its sustainability efforts by adopting a CO2 reduction strategy and involving the community and stakeholders in their efforts. SEB was chosen in 2021 as a partner due to its expertise in sustainability.

“Right from the start, we have experienced communication on an equal level. We always felt that we were in very good hands. Especially when setting up the Green Finance Framework it was important to us to have open discussions and build a trustful relationship, as this was the first time we had set up such a framework and the topic of sustainable financing is very dynamic and complex,” says Patrick Wang.

He says that industry expertise and knowledge of their needs and challenges are extremely important qualities in a banking partner.

Read more about Amprion (amprion.net)

Read longer interview in German (seb.de)