Chinese utility wants to buy its way into German energy grid

The world's largest utility has repeatedly expressed interest in European energy infrastructure and now intends to buy one fifth of a German network operator for upwards of EUR 1 billion.

Photo: 50Hertz

China's new Belt and Road project will run on alternate current (AC) power, says the world's largest utility, State Grid Corporation of China (SGCC), in negotiations to buy 20 percent of German high-voltage power network operator 50hertz.

German newspaper Handelsblatt revealed the Chinese firm's interest three weeks ago, while it was confirmed last Friday when Belgian network operator Elia, which owns 60 percent of 50hertz, presented its annual report. Elia unveiled the fact that Australian co-owner IFM Investors was negotiating a divestment.

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