Germany's Power-Grid Impasse Is Stalling Billions in Deals [Financial Post (Toronto, Ontario, Canada)]
RWE AG ORD S/ADR (RWEOY)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Two of Germany's biggest utilities are putting deals worth billions of euros on hold after the government failed to buy part of Tennet Holding BV, operator of the country's biggest power-grid network. EnBW Baden-Württemberg AG and RWE AG have delayed plans to sell their stakes in German transmission grids while they await clarity on Berlin's next steps, according to people familiar with the matter. Germany, Europe's largest economy, is planning to merge the nation's four high-voltage networks as it seeks to achieve carbon neutrality by 2045. The overhaul could cost as much as €300 billion ($333 billion), but the needs are acute: existing infrastructure is aging and power demand is set to soar as the nation seeks to link its industrial heartland in the south with wind energy in the north. In June, Chancellor Olaf Scholz's ruling coalition ditched
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