TenneT to Finalise Sale of Two German Grid Connection Projects

TenneT’s CEO Mel Kroon told Reuters that the company will finalize the sale of minority stakes in the SylWyn1 and DolWyn1 cables by the end of this year as it needs to raise funds to build new power links in Germany.

This sale will total in 6 out of 10 TenneT’s German offshore projects valued at EUR 7 billion, with estimation of another EUR 1.5 billion needed to finance other projects until 2020.

Also, the company is in negotiations with financial investors to co-finance upcoming German projects.

Subsea World News Staff, August 31, 2012; Image: tennet

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