The Netherlands is closing in on a deal to sell Tennet Holding BV’s power grid in Germany to the government in Berlin after months of protracted negotiations, according to people familiar with the matter.
Germany’s buyout of its biggest power grid operator from the Dutch state is likely to be postponed until next year following the collapse last month of the Netherlands government and with little prospect of a new administration anytime soon.
Green energy produced by UK and Dutch North Sea wind farms could soon be fed into both countries domestic systems as part of efforts to hit net zero carbon goals.
An oil refinery in northern Germany wants to turn excess wind power into green hydrogen to replace natural gas and produce synthetic fuels for aviation.
Dutch power grid operator TenneTIPO said building an island in the North Sea surrounded by windfarms could help to deliver more low-carbon power to European nations.