HGV secures EIB financing for Hamburg power grid with A&O Shearman

Hamburger Energienetze GmbH will invest around EUR 2.9bn by 2029 in expanding and modernizing the city’s electricity distribution grid. The EIB is supporting this investment program with a framework loan of up to EUR1bn, representing around 28% of the total financing. The financing will be disbursed in several tranches, with the first funds having been made available in October 2025.

The growing electricity grid forms the physical backbone of Hamburg’s energy transition. Its expansion is aligned with the objectives of REPowerEU to strengthen security of supply and rapidly increase the share of renewable energy, and at the same time contributes to the European energy strategy. The EIB financing also underscores this European dimension; as the EU climate bank, the EIB targets infrastructure investments that support the achievement of the European Union’s climate objectives and the implementation of the European Green Deal.

The A&O Shearman team comprised partner Dr. Jan-Hendrik Bode (lead) and senior associate Can Altan (both Banking and Finance, Frankfurt). In addition, partner Dr. Jonas Wittgens and counsel Dr. Rüdiger Klüber (both Corporate/M&A, Hamburg) regularly advise HGV on corporate-law matters.