TenneT gives up on sale of Tennet Germany
TenneT and KfW have terminated the discussions on a full sale of TenneT Germany.
Image for illustration purposes.
The Netherlands, Arnhem: Tennet has announced the termination of discussions with Kreditanstalt für Wiederaufbau (KfW) on a full sale of TenneT Germany. The company said it is preparing structural funding alternatives for its German operations. The discussions between TenneT Holding and KfW, acting on behalf of the Federal Government of Germany, were terminated today.
The announcement comes after the Federal Government of Germany informed the Netherlands that it cannot deliver on the planned transaction due to budgetary challenges. TenneT Holding is meanwhile preparing tapping into public or private capital markets for a structural funding solution for its German operations. The German Government is committed to supporting such solutions. TenneT is fully committed to executing its large investment plans in both countries, backed by the Dutch State which recently provided it a €25 billion shareholder loan for the years 2024 and 2025.
Source: TenneT