NBIM-Led Group to Invest €9.5 Billion in Tennet Germany (2)

A consortium led by Norges Bank Investment Management will invest as much as €9.5 billion ($11.2 billion) during the next four years into Tennet Holding BV’s German power grid in exchange for a 46% stake.

The new funds will help to bolster Germany’s electricity network, which has been increasingly stretched by the rapid growth of fluctuating sources of renewable energy like wind. The deal also resolves questions about the future of Tennet in the country, after the Dutch state-owned utility tried and failed to sell its operations last year.

“The participation of private investors helps strengthen energy networks in ...