The German government has purchased a stake of just over 25 % in the German arm of grid operator TenneT. TenneT Holding is fully owned by the Dutch government, which has long sought German investment in the company’s German operations to reduce its own financial exposure.
TenneT operates the high-voltage transmission network onshore and offshore in the Netherlands and across much of Germany. The German investment means TenneT Holding will no longer hold a majority of shares in its German business. Dutch pension fund manager APG, a Norwegian state oil fund and a Singaporean sovereign wealth fund together hold around 46 % of the shares. TenneT Holding will retain at least 28.9 % of the shares in TenneT Germany.
