News item | 17-04-2025 | 16:27
The cabinet will give a guarantee to TenneT Nederland. In this way, the high -voltage network manager can continue to invest in the Dutch electricity network through affordable loans. For the financing of the German branch of Tennet, there are 2 options in the picture: the private issue of shares or an IPO. With this there are structural solutions for the financing needs of TenneT Nederland and Germany, the Ministers Heinen (Finance) and Hermans (climate and green growth) write in a letter to the Lower House. All financial aspects are processed in the Spring Memorandum.
A well -functioning power grid and access to electricity are essential for Dutch households and the business community. Expansion and increase in the electricity grid are needed to be able to meet the growing demand. This requires large investments; It is expected that around € 90 billion through TenneT Netherlands in the next 10 years. To ensure that TenneT Nederland can finance this investment statement, the government has decided to issue a guarantee. This allows Tennet Nederland to take on loans with the same creditworthiness as the Dutch state (AAA). This means that you can borrow on the capital market for better conditions – and therefore cheaper. No additional capital deposits from the State are required via this route. The intention to provide a guarantee is included in the Spring Memorandum 2025. This is submitted to Parliament.
For Tennet Germany, where substantial investments are also needed in the coming years, the cabinet opts for private financing. An IPO or private issue of shares are the two options on the table. In the coming months, interest will be used among private investors and it will be decided before the summer which option will be further implemented.
Due to the intended structural solutions, the financing structure of TenneT changes. TenneT currently picks up her debt via Tennet Holding and is borrowing it to TenneT Nederland and Tennet Germany. In the future, the debt will be collected separately by TenneT Nederland and Tennet Germany. All existing bondholders will be asked to agree against a one -off compensation to move the debt to Tennet Nederland. With this Tennet is working on a future -proof financing structure.
If there is insufficient interest among private investors for participation in Tennet Germany or the debt restructuring does not succeed, the Dutch State itself will meet the capital needs of TenneT Germany. That is why a reservation is included in the National Budget. The Dutch state is thus acting as a responsible shareholder.