Dutch grid operator Tennet clarifies how it will sell its German network

Photo: DutchNews.nl

Dutch power grid company Tenet said on Friday it would begin talks about a possible sale of its German operations to the German government.

The state-owned company, which has been known to support keeping the network intact, said in a press release on Friday that “Both the Dutch and German governments fund and manage the country’s power grid. , admits to preferring to own.”

According to the company, this reflects the cost of energy transitions and grid expansion onshore and offshore, which requires “unprecedented capital expenditures.”

In light of this, the grid operator said it “will be in talks with the German government to explore the possibility of a full sale of Tenet’s German activities on acceptable terms.”

Such a deal would allow the creation of two strong domestic players that will continue to work together to drive the energy transition, Tennet said.

The sale, which was first discussed at the NRC last month, could raise between €20 billion and €25 billion for the state treasury, insiders say.

Tennet, wholly owned by the Dutch government, acquired 11,000 kilometers of the German grid from EON in 2011 and manages approximately 9,000 kilometers of the Dutch grid.

The Treasury Department is said to have developed two scenarios for the sale. One is a scenario in which Tenet’s German branch is sold outright, and another is where the Dutch government retains a minority stake, but Berlin rejected his second option, he said, according to the NRC. says. last month.

The newspaper said the Hague and Berlin are aiming to reach an agreement by March.