General – Acquisition
The German government is considering acquiring a 25.1% minority stake in electricity grid operator TenneT’s German unit, an economy ministry spokesperson said last week.
The German government plans to allocate several billion euros in the 2026 budget.
With more than 14,000 km (8,700 miles) of power lines, TenneT Germany is the country’s biggest operator of high-voltage transmission grids, upgrades of which have been key to strengthening grids during times of more input from renewables.
Germany already holds minority participation in high-voltage power grids TransnetBW, and 50Hertz.
“We see potential for an economically sensible investment and the opportunity to contribute to a stable financing structure for the unit and grid expansion,” said the spokesperson.
According to a finance ministry document seen by Reuters, Germany plans to allocate up to 7.6 billion euros ($8.9 billion) in the coming years towards acquiring a stake in the unit.
The document foresees around 102 million euros in expenditures for 2026 and makes commitments for the following years with the remaining 7.48 billion euros.
The funds are initially subject to a budget freeze and may only be released with the approval of the budget committee.
The spokesperson said the draft provisions do not mean a decision has been made, and if the acquisition were to take place via state-owned lender KfW, only refinancing costs in the low three-figure millions would affect the budget.
The Dutch government said in September it is selling 46% of the unit to an investor consortium, following an unsuccessful attempt to sell it to Berlin last year under the previous government.
