• Mon. Dec 4th, 2023

Germany Renews Pledge to Acquire TenneT’s German Subsidiary


Nov 19, 2023

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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