Germany ends talks with TenneT to buy its German business due to budget constraints.

Germany has terminated talks with Dutch-owned electricity grid operator TenneT to buy its German business due to budget constraints. TenneT, the biggest electricity grid operator in Germany, needed a "structural solution" to funding needs for its German business, with the grid needing an estimated €15bn ($16.1bn) for the transition to renewable energy. The transmission lines are crucial for Germany's plans to fully shift its power production from fossil fuels to renewable energy by 2045.

June 20, 2024
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