The savings banks in Baden-Württemberg reckon they have a chance of getting involved with the power grid operator TransnetBW.
(Photo: imago images/Jan Eifert)
Stuttgart, Frankfort The savings banks in Baden-Württemberg see chances of buying shares in the electricity network operator TransnetBW. To his knowledge, the savings bank consortium was in the final selection, said Baden-Württemberg savings bank president Peter Schneider on Thursday. The system is “extremely interesting” for the savings banks.
Customers are increasingly asking what happens to their money and are increasingly interested in green investments. One possibility is to incorporate the Transnet into green funds or green savings bonds.
In addition, the savings banks would have to invest large sums themselves. The public finance group must participate in the transformation of the economy. Schneider further emphasized that a possible acquisition would be “extremely complex”.
Germany’s third-largest electricity provider, EnBW, wants to bring a long-term financial partner on board for the billion-dollar grid expansion of its subsidiary TransnetBW. It’s a share of almost 50 percent.
According to financial circles, the savings banks are the preferred bidder, while the Danish infrastructure investor Copenhagen Infrastructure Partners (CIP) has outsider chances. Both have submitted final bids, and who will be awarded the contract could be decided as early as this month. CIP declined to comment.
TransnetBW wants to invest in the Suedlink “electricity highway”.
Right from the start of the bidding process, the savings banks were considered to have good prospects because of their direct connection to Baden-Württemberg. Its consortium includes SV Sparkassen-Versicherung and the Baden-Württemberg Savings Banks Association.
Above all, TransnetBW wants to invest the money in the Suedlink “electricity highway”, which is intended to bring wind power from the coast to the industrial centers in southern Germany. The company could be valued at around two billion euros in a deal. In addition, the buyer is expected to contribute equity to the planned investments.
By 2025 alone, EnBW intends to invest six billion euros in its electricity and gas grids, as the utility announced in August. In addition, there are planned investments of four billion in renewable energies. According to earlier information, EnBW has planned investments of ten billion euros in its power grids by 2031.
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