KfW acquires temporary stake in German TSO 50Hertz on behalf of the Federation

By   /  July 27, 2018  /  Comments Off on KfW acquires temporary stake in German TSO 50Hertz on behalf of the Federation

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Source: German Ministry of Finance – in English
27 July 2018
Ministry

Acting on behalf of the Federal Government, Germany’s development bank, the Kreditanstalt für Wiederaufbau, has acquired a temporary stake in transmission system operator 50Hertz. The company supplies electricity to some 18 million people in Germany and is a key player in putting the country’s energy transition into practice.

On national security grounds, the Federal Government has a major interest in protecting critical energy infrastructure. The citizens and the business community expect a reliable energy supply. For this reason, the Federal Government has decided that Kreditanstalt für Wiederaufbau (KfW) should acquire on the Federation’s behalf the 20% share of the German transmission system operator 50Hertz which is currently up for sale; this is a temporary measure, i. e. the intention is to sell the shares again in the future.
50Hertz is one of four transmission system operators (TSOs) in Germany and ensures that some 18 million people are supplied with electricity. Its grid covers the Länder of Brandenburg, Berlin, Hamburg, Mecklenburg-Western Pomerania, Saxony, Saxony-Anhalt and Thuringia. This company therefore plays a key role in the implementation of the energy transition in Germany.
Additional information
The transmission system is essential for the electricity supply and is a critical infrastructure in the meaning of Section 2 subsection 10 of the Act on the Federal Office for Information Security in conjunction with Section 2 subsection 1 number 1 of the Ordinance to Determine Critical Infrastructures Pursuant to the BSI Act.

MIL OSI

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