An amount of EUR 500 million, intended for investments in a power grid in the Netherlands, is likely to be raised through the sale of part of the Dutch power grid operator TenneT, Reuters informs.
According to TenneT’s CEO, the funds are needed in 2014 and 2015 for the upgrade of the grid in the north of the country.
The company will await an approval from the Finance Ministry for the sale to continue.
As Reuters reports, TenneT is planning to invest 5 billion euros in several power projects in the Netherlands and another 8 billion euros in projects in Germany.
The company looks for ways to secure funding for the projects in the Netherlands, including linking power production capacity in the port of Rotterdam to the grid.
In Germany, TenneT plans to upgrade the transmission system to support offshore wind power expansion, and the company is also working on securing funds for those projects.
[mappress]
Subsea World News Staff, March 14, 2013