Power Grid

11 Mar 2024

Netherlands, Germany Near Deal on Tennet Grid, Sources Say

11 Mar 2024  by reuters   
The Netherlands is close to announcing a deal to sell TenneT Holding's power grid in Germany to the government in Berlin, two people familiar with the matter told Reuters on Sunday.

One of the sources said the purchase will likely happen via German state bank KfW, which will sell on the asset to private investors in a second step, while Berlin is expected to keep a blocking minority long-term.

The second source said a deal was close and could be announced in a matter of days.

Talks could still collapse, the sources said.

Bloomberg News first reported that a deal was close.

Sources told Reuters last year that a deal could value TenneT's German assets at 20 billion to 25 billion euros ($27.36 billion).

The Dutch government had no comment when contacted by Reuters and the German government did not respond to a request for comment.

The German government's plan to buy TenneT's business in Germany hit a hurdle after the country's constitutional court ruled that unused COVID-19 pandemic funds could not be re-used for climate projects.


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