Germany

Germany

Anbaric eyes up German offshore grid expansion

US transmission firm establishes new Munich-based company

US electricity transmission specialist, Anbaric Transmission, says it has no interest in taking a stake in Dutch-owned transmission system operator (TSO), TenneT, as press reports have recently claimed. Instead, it hopes to become involved in building German offshore grid connections to shore.

The company admits 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 minimizing operational and financial risks".

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

The US company founded a new arm, called GOTIC, in Munich last month. It has been created "for the purpose of participating in the development and financing of transmission projects connecting offshore wind parks to the German grid".

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