TenneT spins off German business with Tim Meyerjürgens as CEO
Tim Meyerjürgens. Image courtesy TenneT
Dutch-owned TSO TenneT is reorganising its operations in the Netherlands and Germany, appointing its current COO Meyerjürgens as its German CEO, in a move to facilitate future growth and the potential sale of its German arm.
As of January 1st, 2025, TenneT will work via two national organisations in the Netherlands and Germany, held together as a group under a single holding company.
The company’s reorganisation aims to facilitate potential private investment into TenneT Germany, which has been on the cards for some time, with talks of a sale to the German government ending earlier this year.
Based on Germany’s grid length as of 31 December 2023, cites TenneT in a release, TenneT Germany is the largest transmission grid operator in the country, although the TSO has to date been controlled by the Dutch state as its sole shareholder.
The current structure means the Dutch state-owned entity has been responsible for expanding the German grid infrastructure to meet the demands of the energy transition, namely transporting immense renewable energy from North to South.
The adjustment is currently being evaluated by TenneT Holding and the Dutch state.
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Meyerjürgens appointed German CEO
With the business split, Tim Meyerjürgens – current COO of the Executive Board of TenneT Holding B.V.– has been appointed CEO of TenneT Germany.
Meyerjürgens comes with almost 30 years of professional experience in the sector and is currently responsible for TenneT‘s onshore and offshore business both in the Netherlands and in Germany, as well as for all international interconnector projects of the Group.
Said Meyerjürgens in a release: “I am honoured and grateful for the opportunity to lead my great colleagues at TenneT Germany into the next phase of our unique journey.
“As the largest grid operator in Germany, located in the heart of Europe, we have a special responsibility. Our team is motivated, and our targets are clear. So is our vision: to deliver and operate a reliable and efficient grid for a cost-effective energy system.”
Added Manon van Beek, CEO of TenneT Holding B.V. said: “Tim Meyerjürgens has been a key architect of successful innovation and grid expansion in Germany. He is a trusted leader with an unrivalled track record. He also stands for continuity in cooperation across both our markets which will continue to be a crucial success factor for TenneT going forward.”
According to Reuters reportage, the Dutch government said in September it would provide TenneT with an additional €19 billion ($20 billion) in loans through 2026, on top of €12 billion ($12.6 billion) that had already been available for 2025, to finance the large investments in the grid needed to help with the transition away from fossil fuels.
