The federal government acquires shares in the network operator TransnetBW. The parent company EnBW had already sold a minority share six months ago. The supplier wants to invest the money.
The federal government is investing in the network subsidiary TransnetBW of the Karlsruhe energy group EnBW. The federal government has acquired a minority share of 24.95 percent and commissioned the state development bank KfW to purchase it, EnBW announced. The amount of the purchase price was not disclosed.
A minority share had already been sold in May: a consortium of more than 30 savings banks, banks, insurance companies and corporations from Baden-Württemberg, led by SV Sparkassenversicherung and EnBW, agreed to take over almost a quarter of TransnetBW’s shares. KfW had an option to purchase the second minority share.
“We are pleased to welcome two long-term, reliable co-investors for TransnetBW on board,” said EnBW CFO Thomas Kusterer. At the same time, the wholly owned parent company would have additional funds available for growth investments in accelerating the implementation of the energy transition in Germany.
EnBW had already announced last year that it would sell two tranches of 24.95 percent each to its subsidiary. EnBW remains the majority shareholder of the company, which is responsible for an electricity network covering around 34,600 square kilometers and operates one of four so-called transmission networks in Germany. Wind power from the north of the Federal Republic to the south will also be transported on these power highways.