Nordic-Baltic TSOs conclude pre-feasibility study for hydrogen corridor
Sep 09, 2024 10:43 CESTTenneT, the grid operator in the Netherlands and parts of Germany, intends to probe the option of tapping into the capital markets to raise funds for its German operations and thus raise proceeds for the expansion of its grids, both onshore and offshore, it said recently.
The contemplated market fundraising will back TenneT’s 10-year investment plan for 2024-2033, under which up to EUR 160 billion (USD 173.9bn) will be invested in the Netherlands and Germany. Most of the financing will come from debt, but equity will be needed, too, the company said.
The Dutch grid operator previously attempted to negotiate the divestment of its German business to state-owned development bank KfW but to no avail. Now, it will consider private investments in TenneT Germany, as well as going to the public market in order to raise equity.
TenneT recently secured a EUR-25-billion shareholder loan from the Dutch state, its sole owner, safeguarding the financing of its planned investments in 2024-2025. In March, it also bagged EUR 1.1 billion for its green power transmission projects from selling green hybrid bonds.
(EUR 1.0 = USD 1.087)
Nordic-Baltic TSOs conclude pre-feasibility study for hydrogen corridor
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