Infener to set up 20-MW green hydrogen hub in Germany
Sep 17, 2024 14:59 CESTThe German government is exploring the possibility of acquiring full ownership of gas network operator Wiga, with an estimated valuation ranging from EUR 3 billion to EUR 4 billion (USD 4.28bn), as the company could play a major role in the country's national hydrogen strategy, Handelsblatt reports.
Securing Energy for Europe GmbH (SEFE), a state-owned enterprise that already holds a 50% stake in the pipeline operator, could take the remaining 50% from German oil and gas company Wintershall Dea, the newspaper reports citing sources with knowledge of the matter.
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Discussions are underway between the federal government, SEFE, and the European Commission to determine the viability of such a transaction, stated Philipp Steinberg, a government official overseeing energy security, during the Handelsblatt Annual Gas Conference in Berlin.
Reportedly, Wintershall is currently evaluating the potential sale of non-core business units. Investment bank Citi is conducting an assessment of options for Wiga. However, an official sales process has not been initiated at this point.
In July, the federal government updated the National Hydrogen Strategy, which involves the establishment of a hydrogen network among others. This could be partially achieved through repurposing existing gas networks such as Wiga’s pipelines. Overall, the firm operates a pipeline network of over 4,000 km (2,485 miles).
(EUR 1 = USD 1.07)
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