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Germany

Germany

Anbaric looks at German offshore grid move

GERMANY: US electricity transmission specialist, Anbaric Transmission has said it hopes to become involved in building German offshore grid connections to shore.

The company made the statement amid reports it is interested in taking a stake in Dutch-owned transmission system operator (TSO), TenneT.

The company admitted to having talks with TenneT, other TSOs, government and potential investors "about how to structure such investments in order to build the connections quickly, at low cost while minimising operational and financial risks".

Last month, Anbaric "made a few suggestions" to the German parliament with respect to a draft law under discussion about reducing liabilities facing companies involved in expansion of the country's offshore electricity network.

Anbaric said its suggestions are aimed at encouraging a project structure that would "attract high quality investors with patient capital."

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