AMSTERDAM (Reuters) - Dutch electricity grid operator TenneT will consider selling or listing its German operations, it said on Thursday, with the Netherlands and Germany having failed to agree a sale to the German state.
A sale of the assets for as much as 25 billion euros ($27.2 billion) has been close to completion several times only to encounter German budget difficulties.
A TenneT spokesperson said that state-to-state talks are ongoing.
TenneT, owned by the Dutch government, is the Netherlands' sole grid operator and also the largest grid operator in Germany.
"Although extensive discussions have taken place for more than a year, unfortunately no agreement could be reached so far," a company statement said.
TenneT said it had explored the possibility of a full sale of its German operations to state bank KfW.
The company is spending 160 billion euros over 2024-2033 on grid improvements and expansions, including a grid to support burgeoning wind turbine parks in the North Sea.
Most of that will be funded by debt, but the company also needs to raise equity.
The lion's share of its investments are planned on German territory, which prompted Berlin to ask The Hague to sell TenneT Germany because it is considered crucial infrastructure.
TenneT said that while talks continue, TenneT will also make preparations for potential investment in TenneT Germany by private investors or a potential listing to raise equity.
($1 = 0.9204 euros)
(Reporting by Benoit Van Overstraeten, Bart Meijer; Editing by Charlotte Vann Campenhout and David Goodman)
