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Germany needs $325 billion of power grid investments by 2050, KfW says

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Germany needs $325 billion of power grid investments by 2050, KfW says

Germany needs $325 billion of power grid investments by 2050, KfW says

FRANKFURT (Reuters) – Germany needs investments of around 300 billion euros ($325 billion) by the middle of the century to equip its power grids for decarbonisation, state bank KfW said on Tuesday.

“The necessary expansion of renewable energies makes suitable and flexible transmission and distribution networks necessary and requires high investment,” KfW said at a capital markets conference at its headquarters in Frankfurt.

“The means for that cannot come from public funds alone but must for the larger part be mobilised via private investors or the capital market,” it added.

($1 = 0.9238 euros)

 

(Reporting by Vera Eckert and Christoph Steitz, Editing by Friederike Heine)