Germany in Talks to Merge Power Grids Through Buyouts
- Government wants to upgrade network as renewables come online
- Expanding transmission system projected to cost €50 billion
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Germany’s government is accelerating efforts to merge four high-voltage grid operators because it believes that’s the quickest way to modernize power lines for a coming influx of renewable energy, according to people familiar with the matter.
Chancellor Olaf Scholz’s cabinet is in talks with the Dutch government to pay more than €20 billion ($21 billion) for the local unit of Dutch operator TenneT Holding BV. Negotiations for stakes in rivals 50Hertz Transmission GmbH, TransnetBW GmbH and Amprion GmbH also are underway, with the eventual goal of forming a single unit, the people said, asking not to be identified because the discussions aren’t public.