Germany to buy stake in Dutch grid operator TenneT as part of broader energy cooperation
Clean Energy Wire
The German government is preparing to buy a stake in Dutch transmission grid operator (TSO) TenneT as part of a broader energy policy partnership between the two neighbouring countries. "Germany and the Netherlands have jointly reached the conclusion that a closer cooperation of TSOs in the two countries as well as possibly other neighbour countries could contribute to a more efficient energy supply," the German economy ministry (BMWi) said. According to the ministry, "considerable" investments by TenneT into the Dutch-German power grid will become necessary by 2029, which is why both governments are considering "options regarding investments and financial participation." The two countries also pledged to intensify collaboration on other grid-related measures and to examine the joint development of an offshore wind power hub. German economy minister Peter Altmaier said the energy transition has profound consequences on grids in both countries, which is why closer cooperation and policy coordination with the Netherlands will help to keep necessary investments as cost efficient as possible. Dutch finance minister Wopke Hoekstra, said the German involvement in state-owned TenneT would prove to be a boon for the company "not only in the short-term but also in the future."
TenneT is one of four TSOs operating in Germany. In 2019, the company said it will invest 28 billion euros in new power grid infrastructure in Germany and the Netherlands over 10 years, as energy transition targets mean more renewable power being fed into the grid.