bayernets finances 210 million euros for investments in its gas infrastructure expected to meet the basic requirements for the transportation of hydrogen
bayernets GmbH, Munich, has raised 210 million euros from lenders as part of a competitive process to finance its gas infrastructure, in particular the AUGUSTA pipeline project, the company announced.The financing volume was oversubscribed several times over.
“We are very pleased that a large majority of the investors we approached submitted offers and that interest was so high. The security offered by bayernets’ regulated business is clearly still attractive to lenders. However, our long-term contribution to the necessary ramp-up of a hydrogen economy in Germany was also recognized. With the upcoming investments, we are further future-proofing our energy infrastructure,” says Dr. Matthias Jenn, Managing Director of bayernets GmbH.
A consortium consisting of Commerzbank AG, KfW IPEX-Bank and DZ BANK AG Deutsche Zentral-Genossenschaftsbank will each provide one third of the financing volume.
The planned AUGUSTA gas transport pipeline will connect the compressor station in Wertingen in the district of Dillingen an der Donau with the Kötz network node in the district of Günzburg over a length of approx. 40.5 kilometers. The planning approval process was launched in mid-2023.
Photo of bayernets GmbH
Press release https://shorturl.at/bzv7P
