EnBW to sell transmission network
A chimney emits fire at the PCK Raffinerie oil refinery in Schwedt/Oder, Germany, March 7, 2022. The company receives crude oil from Russia via the 'Friendship' pipeline. Picture taken March 7, 2022. PHOTO: REUTERS
Germany’s EnBW said on Saturday it is pressing ahead with the planned sale of high-voltage power transmission network TransnetBW, as a media report said a Stuttgart insurance company representing Baden Wuerttemberg state savings banks was among bidders. “Preparations for the approach to the market are making good progress and we will hold the first concrete conversations in coming weeks,” a spokesperson for the southwestern power utility said. EnBW said in February it was looking into the sale of a 49.9% stake in TransnetBW to a long-term investment partner, with a view to taking a decision on whether to go ahead with the move in 2022. Reuters reported in June that German state-owned bank KfW was considering taking a stake in TransnetBW, citing sources familiar with the matter. The 3,100km grid, one of four high-voltage networks in Germany, could be valued at more than 2 billion euros ($2.05 billion) as part of a potential deal, they said.
Published in The Express Tribune, August 14th, 2022.
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