The German government is in talks with TenneT to buy the German activities of the Dutch grid operator. The acquisition price is between 20 billion and 25 billion euros, insiders say to the news agency Bloomberg. The negotiations could take several months, sources say.
TenneT reported earlier this month that it was investigating a possible sale of its German activities to the German state.
The company currently manages the Dutch high-voltage grid and part of the German high-voltage grid. Due to the energy transition, both the German and Dutch governments prefer to own and finance their own electricity grids.
The Dutch State is TenneT’s sole shareholder. A sale of more than 20 billion euros would be one of the largest sales of a state-owned company ever.
Both TenneT and the German government were opposed Bloomberg not comment on the negotiations.
Germany wants to secure affordable electricity
Germany is working hard to secure affordable electricity after the loss of Russian gas supplies due to the war in Ukraine. The country also wants to strongly reduce the use of fossil fuels and to be climate neutral by 2045.
This requires a huge and expensive expansion of the electricity grid. With this, Germany wants to link the industrial core areas in the south of the country to clean energy sources elsewhere.
