A state-owned Dutch company, TenneT, terminated talks to sell its German business to the government in Berlin due to budget constraints impacting renewable energy transition plans.
Some wind farm electricity in northern Germany can't be transmitted south due to capacity issues, affecting Germany's shift to renewable energy by 2045.
The German government, facing budgetary challenges, cannot proceed with the purchase from TenneT as part of resolving funding needs for renewable energy transition.
TenneT plans to explore public or private capital markets for funding its German operations after termination of talks with the German government for the purchase.
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