German politicians closely watch Chinese company’s plans to buy share in German grid operator

Chinese grid company SGCC’s plan to acquire 20 percent share in Germany’s transmission grid operator 50Hertz worries German politicians and could refuel the debate on establishing a state-run transmission grid company, reports the Handelsblatt. It was a big mistake “to turn power grids into sources of profit of arbitrary private investors from Germany and abroad” when the transmission grid was divided between four companies ten years ago, Oliver Krischer, deputy head of the Green Party’s parliamentary group, told Handelsblatt. Bernd Westphal, Social Democratic (SPD) energy spokesman, said: “In principle, there’s nothing to say against foreign investors, of course. But there must not be a sell-out of critical infrastructure.” Christian Democratic Union (CDU) parliamentary group deputy head Christian Hirte said that the developments at 50Hertz would be “closely watched”.

Read the article (behind paywall) in German here.

See the CLEW dossier The energy transition and Germany’s power grid and the article Sino-German tandem: Export champions promote global energy transition for background.