Fid Financial Close

BNetzA confirmed the Netzentwicklungsplan Strom 2037/2045 (2023 edition) on 1 March 2024 under section 12c of the German Energy Industry Act (EnWG). This confirmation includes BalWin2 as a required 2 GW offshore grid connection system and creates the legal basis and obligation for responsible TSO Amprion to plan, procure, and construct the system. For regulated German TSO offshore grid connections, the BNetzA NEP confirmation functions as the de facto Final Investment Decision: unlike merchant or developer-led projects that require a separate board-level investment decision and financial close, the NEP confirmation simultaneously authorises and obligates the TSO to invest. Costs are recovered through the offshore grid levy (Offshore-Netzumlage), so there is no project finance or bank lending to arrange. The NEP 2037/2045 (2023) schedules 25,980 MW of offshore transmission capacity across 16 grid connection systems for commissioning between 2026 and 2032, of which BalWin2 is one of 11 systems at the new 2 GW standard using plus-minus 525 kV HVDC technology. This event is recorded alongside the planning_consent_awarded event of the same date because the NEP confirmation serves both the consenting and investment-decision functions for TSO-operated offshore grid connections in Germany.