Anbaric could help TenneT with German offshore link plan

Mon Oct 22, 2012 9:48am EDT
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BERLIN/DUESSELDORF (Reuters) - Institutional investors led by U.S. energy transmission developer Anbaric Transmission are interested in pumping up to 4 billion euros ($5.2 billion) into linking German offshore wind farms with the mainland.

Anbaric could act as an intermediary for potential European and U.S. investors willing to help finance up to four offshore network link projects of grid operator TenneT, an Anbaric spokesman said on Monday.

"That would be a reasonable first package," he said.

A spokeswoman for TenneT TSO, the German arm of Dutch state-owned firm TenneT TNETH.UL, said there had been "an exchange of information, but no more".

Anbaric earlier this month denied it was planning to bid for Tennet's German unit.

TenneT bought Germany's biggest power grid in 2009. It is used mainly by E.ON (EONGn.DE: Quote).

The Anbaric spokesman said on Monday that TenneT would remain the operator as Anbaric had no interest in that role.

TenneT has come under political and financial pressure over delays in linking off-shore wind farms with the mainland.

Germany aims to boost renewables to 35 percent of its power output by 2020, with over 10,000 megawatts of offshore capacity installed by then.   Continued...