What does it take to future-proof Europe’s electricity grid? How do you finance €65 billion in infrastructure without driving up consumer electricity costs? And can the permitting process be sped up to become fast enough for the energy transition?

This week on Cleaning Up, Michael Liebreich sits down with Tim Meyerjürgens, CEO of TenneT Germany, the country’s largest transmission system operator, to explore the physics and finance behind decarbonising Europe’s power networks.

From billion-euro transmission lines to the domestic and international politics of connecting the North Sea’s vast offshore wind potential with Germany’s industrial heartland, Meyerjürgens offers a rare inside view of one of Europe’s most complex and capital-intensive transitions.

The conversation dives into:

• How TenneT split its Dutch and German operations to attract €9.5 billion in equity from investors like Norges Bank and GIC

• The challenge of accelerating grid buildout from 20-year to 5-year timelines

• The delicate balance between regulation, investment, and public acceptance

• Why building our transmission across Europe is key to energy resilience

This episode was supported by TenneT Germany.

Leadership Circle:

Cleaning Up is supported by the Leadership Circle, and its founding members: Actis, Alcazar Energy, Davidson Kempner, EcoPragma Capital, EDP of Portugal, Eurelectric, the Gilardini Foundation, KKR, National Grid, Octopus Energy, Quadrature Climate Foundation, SDCL and Wärtsilä. For more information on the Leadership Circle, please visit https://www.cleaningup.live.

Discover more:

• TenneT Germany’s website: https://www.tennet.eu/de-en/home

• TenneT Germany successfully concludes syndication of €12 billion revolving credit facility: https://www.tennet.eu/de-en/news/tennet-germany-successfully-concludes-syndication-eu12-billion-revolving-credit-facility

• The £60 Billion Plan To Rewire Britain | Ep227: John Pettigrew: https://www.youtube.com/watch?v=S7Lg1A958aA

• Can Europe Survive the Renewables Transition? Ep201: Nikos Tsafos: https://www.youtube.com/watch?v=dUvKzs82Mi0

⁠The €65 Billion Plan to Modernise Germany’s Grids | Ep233: Tim Meyerjürgens

Cleaning Up: Leadership in an Age of Climate Change