TenneT raises €1.5bn bond as order books hit €3.8bn

TenneT priced a €1.5bn bond for Dutch grid expansion, drawing order books of more than €3.8bn. The oversubscription ratio points to sustained institutional demand for regulated transmission debt at a time when European TSOs are competing for capital to accelerate network investment.

In the UK, the government confirmed the formal launch of Great British Grid. Prime Minister Andy Burnham framed the public network company as a direct challenge to private sector operators. Separately, NESO asked regulators for more time to issue pre-2030 connection offers, noting that updated agreements have reached 75% of GB projects targeting end-of-decade energisation. The remaining quarter signals a near-term administrative bottleneck for developers.

On the supply chain side, NKT reported that its Karlskrona factory extension in Sweden is running ahead of schedule, with commercial operation pulled forward to Q2 2027. Faster cable manufacturing capacity matters directly for offshore wind grid connection timelines across the North Sea and Baltic regions.