Dutch electricity transmission system operator TenneT has come under further scrutiny in Germany over its ability to fund offshore wind grid links.
TenneT board member Lex Hartman told a conference in Hannover that he admits it still remains to be seen how offshore infrastructure suppliers and investors will judge the remaining risks, saying “We will see within the coming three, four or five weeks, how capital markets will react.”
TenneT had spent $7.8bn on offshore grid connections, but said it could not meet the costs for further links alone, according to Recharge News.
However the Bundestag, Germany’s parliament, recently passed legislation designed to ease the grid-connection issues. The law caps the liability facing transmission system operators (TSOs) – principally TenneT – in the event of delays or damage to links.
This move, it is hoped will persuade pension funds, insurance companies and other institutional investors to start pumping capital into the sector.
But the state premier of Lower Saxony David McAllister said: “We all know that the question of capital funding of the transmission system operator TenneT is an unresolved problem.
“We need to advance in this question,” added McAllister, a member of Chancellor Angela Merkel’s Christian Democrats, who stands for re-election at a poll in the state later this month.
Meanwhile federal environment vice minister Katherina Reiche, said TSOs need to “assume their responsibility” for their part in the offshore wind build programme.
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