Dutch state-owned grid operator TenneT has secured up to €9.5 billion (approximately $11 billion) in funding from APG, Singapore’s sovereign wealth fund GIC, and Norway’s Norges Bank Investment Management (NBIM) to accelerate the expansion of its German electricity infrastructure.
The investment, in exchange for a 46% stake in TenneT’s German subsidiary, values the business at around €40 billion. TenneT will retain a majority 54% share, ensuring continued strategic oversight of its operations.
The capital injection will support critical upgrades to Germany’s power grid, including offshore wind connections and broader infrastructure enhancements essential to the country’s energy transition. The German government is also considering participation through its national development bank, KfW.
This landmark deal reflects growing international confidence in Europe’s renewable energy ambitions and underscores the role of cross-border investment in modernizing energy systems for a low-carbon future.
