News item | 03-02-2026 | 14:51
The Dutch state sells 25.1% of the shares in TenneT Germany to the German state, through the investment bank KfW. The German state thus acquires a minority interest in the company. The Dutch and German states, TenneT and three private investors (APG, GIC and Norges Bank Investment Management) those who joined earlier have reached an agreement on this.
As a result of the energy transition, TenneT Germany needs additional capital to strengthen the German power grid. That is why three private investors were attracted last year who will receive a maximum of 46% of the shares. Now the German state is also purchasing 25.1%. It pays TenneT the same price per share as private investors did last year. This amounts to approximately 3.3 billion euros in 2026. In addition, if capital requirements remain the same, another 1.5 billion euros in revenues will be received from private investors by 2029 at the latest.
After the sale, TenneT Holding will retain approximately 28.9% of the shares in TenneT Germany. TenneT Holding thus retains a right of veto on important decisions. It is important that the synergy benefits created by the collaboration between TenneT Netherlands and Germany are maintained. This is actively being pursued. The two companies will continue to work together to realize infrastructure to connect wind farms in the North Sea to the power grid.
Minister Heinen (Finance) says it is good that the German state is now also participating. “It is important that we as neighboring countries and within Europe work well together, also in the field of our energy network. This investment contributes to this and at the same time strengthens the financial position of TenneT Germany. It also generates money for the treasurywhich can be used for other investments”, Heinen said.
With their participation, the German state will actively contribute to the capital needs of TenneT Germany, which will strengthen its financial position. In addition, they directly purchase TenneT shares, which generates money for the Dutch treasury. The proceeds will be used to repay part of a current loan from the Dutch state. This repayment will be included in the government’s books in the 2026 Spring Memorandum.
