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Shareholders invest €500 million in Enexis Holding for energy transition

30 Nov 2020

The five provincial and 66 municipal shareholders of Enexis Holding have invested a total of €500 million in the network manager to boost the energy transition. On 29 July 2020, the first tranche of the loan was concluded for a total amount of over €421 million. The second tranche of €79 million was added today. These important financial transactions will help Enexis Holding and its shareholders bring about the energy transition. The interest rate for the second tranche of the loan (Tranche B) is 1.40%.

Specific loan provides flexibility

The shareholders and Enexis Holding have recently explored the possibilities of reinforcing Enexis's equity. This led to a request being made to all shareholders to strengthen equity with a convertible hybrid shareholder loan. This will allow shareholders and Enexis Holding to reinforce the holding’s equity should that become necessary. Sufficient equity is important to maintaining a solid credit rating, so that Enexis Holding can maintain access to the capital market and take out loans at favourable rates.

Energy transition

The energy transition is having a strong impact on network managers, and so too on Enexis Netbeheer. Examples include the construction of wind and solar parks, but also customers who generate their own energy. That means that Enexis Netbeheer needs more money to invest in facilities that make the grid suitable for these changing energy flows. Other than that, Enexis Netbeheer will of course continue to invest in regular maintenance and expansions required for a safe and reliable network.

This calls for a permanently higher activity and investment level. Enexis is of course taking a critical look at its efficiency and is holding talks with regulatory authorities with a view to continue to finance growth resulting from the energy transition. The collaboration between the shareholders and Enexis Holding through this loan is also of vital importance and an important step towards facilitating the energy transition.