The Dutch are constructing major new energy infrastructure, including wind farms in the North Sea and LNG and electrical substations, while the German government plans to buy TenneT’s local division, a grid operator. However, a ruling by the country’s constitutional court on Wednesday has hit a hurdle for this plan. The court ruled that 60 billion euros ($65 billion) in unused COVID-19 pandemic funds cannot be re-used for climate projects.
The two countries have been working hard towards a sale of TenneT Germany, with an enterprise value of up to 25 billion euros ($26.3 billion), since February. Reporting by Andreas Rinke, writing by Maria Martinez; Editing by Hugh Lawson and Jane Merriman
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