Renewable

December 14 (Renewables Now) - State Grid Corporation of China is negotiating the purchase of a 20% stake in the entity that holds 50Hertz Transmission GmbH, one of the four transmission system operators (TSOs) in Germany.

The announcement was made today by Elia System Operator NV (EBR:ELI), which owns 50Hertz Transmission alongside investment manager IFM Investors through their 60/40 joint venture Eurogrid International SCRL. Elia said in a statement that IFM is holding talks to sell half of its 40% stake in the JV to State Grid or one of its units.

The Belgian group noted that it will examine the intended transaction and its modalities as soon as officially confirmed.

50Hertz Transmission is a TSO active in the North and the East of Germany. The company is responsible for the transportation of the wind power generated by plants off the German Baltic Sea to the onshore power grid.

At the end of the first half of 2017, there were 102 offshore wind turbines with a combined capacity of 339 MW in the Baltic Sea, installed and feeding into the grid. A further 33 units totalling 167 MW were not yet feeding electricity, according to a report by Deutsche WindGuard GmbH.

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