Dutch Gasunie expects to invest $13 billion in power grid through 2030

Dutch natural gas grid operator Gasunie on Monday said it expects to invest around 12 billion euros ($13 billion) through 2030 to help accelerate the energy transition and stop major industries leaving the Netherlands.

Gasunie said two thirds of its investment would be for infrastructure for sustainable gases, like hydrogen and biomethane, while continuing work on carbon capture and storage (CCS) projects.

The share of what it labels green projects as a proportion of total investments increased from 20% to 45% last year, it said.

"The company is taking major steps towards a future in which sustainable gases and green electricity reinforce each other," Gasunie said.

Dutch industry has complained about high energy costs and the limited possibilities to make production processes more sustainable.

A surge in solar and wind power has led to congestion on the country's electricity grid, while plans for sustainable hydrogen production have stalled.

Gasunie CEO Willemien Terpstra called on industry and the government to work together to ensure companies can move away from fossil fuels without losing their competitive edge.

"The Netherlands is currently at the tipping point where it will be seen whether we will become more sustainable with industry or without," Terpstra said.

"Gasunie wants to do everything it can to keep key industries in the Netherlands."

($1 = 0.9227 euros)