TenneT Germany requires additional capital due to the energy transition to strengthen the German power grid. Therefore, last year three private investors were attracted who will receive up to 46% of the shares. Now the German state is also buying in for 25.1%. They pay TenneT the same price per share as the private investors did last year. This amounts to approximately 3.3 billion euros in 2026. Additionally, assuming a stable capital need, another 1.5 billion euros will come from the private investors by 2029.
After the sale, TenneT Holding retains about 28.9% of the shares in TenneT Germany. This allows TenneT Holding to maintain veto rights on important decisions. It is important that the synergy benefits arising from the cooperation between TenneT Netherlands and Germany are maintained. Active efforts are being made to ensure this. For example, the two companies continue to collaborate on infrastructure to connect offshore wind farms in the North Sea to the power grid.
Minister Heinen (Finance) welcomes the participation of the German state. “It is important that we, as neighboring countries and within Europe, cooperate well, also in the field of our energy network. This investment contributes to that and simultaneously strengthens the financial position of TenneT Germany. It also generates revenue for the treasury, which can be used for other investments”, said Heinen.
With their participation, the German state actively contributes to the capital needs of TenneT Germany, strengthening the financial position. Additionally, they directly purchase shares from TenneT, generating funds for the Dutch treasury. Part of an ongoing loan from the Dutch state is repaid with the proceeds. This repayment is recorded in the 2026 Spring Memorandum in the governments accounts.