Negotiations between TenneT and KfW on the sale of TenneT Deutschland have drawn to a close.
The negotiations between TenneT Holding and KfW bank, on behalf of the Federal Republic of Germany, on a complete sale of the German division of the grid operator ended this morning.
In a statement TenneT said the talks came to an end after the German government informed the Dutch state “that it would not be able to carry out the planned transaction due to budgetary problems”.
The Dutch-German grid operator is now preparing structural financing alternatives for its German business.
As previously announced, TenneT Holding is preparing to use public or private capital markets to “find a structural financing solution” for its German operations.
The German government is prepared to support such alternative solutions, stated TenneT.
In the meantime, TenneT confirmed it “is sticking to its extensive investment plans in both countries”.
This is supported by the Dutch state, which recently granted TenneT a shareholder loan of €25bn for 2024 and 2025.