SachsenEnergie plans investments of over 500 million euros in 2024

The energy supplier SachsenEnergie plans to invest more than 500 million euros in the new year. The money will primarily go towards grid expansion, decarbonization and the expansion of the telecommunications network, as the company announced in Dresden on Friday. The largest sum - around 200 million euros - is planned for the expansion of the electricity grids. A good 130 million euros are earmarked for measures to move away from carbon-based energy sources (decarbonization) and the expansion of renewable energies. Another focus is the expansion of fiber optics for 130 million euros.

"We have Saxony in our name and want to be there for Saxony. That's why SachsenEnergie will be offering electricity and natural gas throughout the state with immediate effect. We will also be offering fast internet almost everywhere in Saxony in future," announced CEO Frank Brinkmann.

According to the company, a new "Naturkraft" division was founded at the beginning of the year. It is intended to bundle expertise in the field of renewable energies. The aim is to build up four to five terawatt hours of green energy generation by 2040. SachsenEnergie currently operates 26 wind turbines in six wind farms across the country with a total output of around 67 megawatts. The sun's energy is captured by 51 photovoltaic systems.

SachsenEnergie has announced a turnover of 6.6 billion euros for 2023. "We were able to keep electricity prices comparatively stable in a crisis environment and thus expand our customer base. At the same time, we expect earnings to increase to over a quarter of a billion euros in 2023," explained Brinkmann.

The Group currently employs more than 3,700 people, it said. This year, the Group is expected to grow to more than 4,000 employees.

SachsenEnergie kicked off the new year on Thursday evening with an event at Kraftwerk Mitte. Climate activists also drew attention to themselves. With a banner and the inscription "No excuses! Net zero 2035 is possible", the Fridays for Future movement, for example, demanded more speed in phasing out fossil fuels. "We are irritated that SachsenEnergie's decarbonization concept is geared towards the year 2045 and are appealing for an improvement to 2035," explained Anna-Sophia Busch from the DresdenZero citizens' petition.