Dutch-owned grid operator mulls sale to German government

Published February 10, 2023 4:02 AM

BERLIN (AP) — A state-owned Dutch company that is Germany’s biggest electricity grid operator says it plans to hold talks on selling its entire German business to the government in Berlin. Germany welcomed the announcement Friday. TenneT, which is one of four transmission network operators in Germany, pointed to the need to find a “structural solution” to funding needs for its German business as the grid is bolstered to handle the transition to renewable energy. It put that cost at about 15 billion euros, or $16.1 billion. TenneT operates electricity grids across a large swath of Germany. Those transmission lines are crucial for Germany’s plans to completely shift its power production from fossil fuels to renewable energy by 2045.

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