Germany’s budget committee has approved the purchase of a minority stake in the German division of Dutch high-voltage power transmission grid TenneT, a German parliamentary source told Reuters on Friday, realising a long-standing plan to tighten its grip on key infrastructure.
Budget committee members from the conservatives, the centre-left SPD and the Greens voted in favour of the move, while the far-right AfD voted against it and the Left Party abstained, the source said.
The economy ministry, in a letter seen by Reuters in November, had said it aimed to sign an agreement in early 2026 to buy a 25.1% stake TenneT Germany, earmarking 5.8 billion euros ($6.73 billion) for the purchase as well as further payment obligations as part of capital increases from 2026 to 2029.
The Dutch government in September agreed to sell 46% of TenneT Germany to an investor consortium consisting of pension fund manager APG, Singapore’s sovereign wealth fund GIC and Norges Bank Investment Management (NOCB.UL) for up to 9.5 billion euros.
Berlin has for some time considered buying a 25.1% stake as part of a push to keep greater control over critical energy infrastructure assets, but a previous attempt to take a stake had failed in 2024.
Source: Reuters.com