COPENHAGEN (dpa-AFX) - Siemens Energy AG (SMEGF.PK SMNEY.PK), a German
energy firm, and Danish state-owned Energinet announced on Thursday that they
have inked a 1.4 billion euros or DKK 10.5 billion framework deal to renew
Denmark's energy infrastructure.

As per the agreement, Siemens Energy will deliver transformers and switchgears
for high-voltage substations to expand the electricity grid in the country.

The agreement focuses on the Western part of Denmark, where around 50 new or
reinforced 150 kV high-voltage substations are planned to be built or expanded
over the next 8 years. The new substations will be automated and include grid
technologies from Siemens Energy.

The first four years of the agreement is estimated to be worth up to 800 million
euros to boost the energy transition.

With Denmark aiming to reach a target of net zero emissions by 2045 through
renewable energy, the race is on to decarbonize the Danish grid.



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