The Strategist

German government to buy out the country's largest power grid for €20B

09/29/2023 - 03:36

According to Bloomberg, which cited its own sources, the German government and Dutch power grid operator Tennet Holding are close to finalizing a deal for the German government to purchase Tennet's entire German company. The agreement is expected to be worth around €20 billion.

The largest grid in Germany is owned by Tennet, one of four businesses that govern the country's energy infrastructure. The operator's networks span the entirety of Germany, from the Danish border in the north to the Alps in the south.

The parties are attempting to reach a deal as soon as possible, according to the agency's sources, so that the Dutch parliament has time to adopt it before the end of October when the recess will begin and before the country's general election, which is set for November 22.

Tennet admitted the discussions but declined to elaborate on their nature. The two administrations declined to respond to inquiries about this information.