Tag Archive for 'Statnett'

Statnett, Tennet and KfW Reach Agreement to Build Electricity Interconnector Between Germany and Norway

Statnett, the Norwegian Transmission System Operator (TSO), the German TSO Tennet and the state-owned German KfW Development Bank (KfW) have agreed to team up as equity partners in a project set up to develop and construct a subsea interconnector between Germany and Norway, with Statnett holding 50 %, KfW at least 25 % and the remaining interest held by Tennet, Statnett announced. Tennet said an agreement was being drafted and should be signed in September 2012. The company confirmed the involvement of KfW in the project it estimated to cost between EUR 1 billion to EUR 1.5 billion, but did not further specify the financial commitments of the partners. Tennet also said a second interconnector was planned at a later stage.

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