50Hertz Transmission GmbH

50Hertz Transmission GmbH
Industry Electricity
Predecessor Vattenfall Europe Transmission
Verbundnetz Elektroenergie
Founded 2002 (2002)
Headquarters Berlin, Germany
Key people
  • Boris Schucht (CEO)
  • Dr. Frank Golletz (CTO)
  • Marco Nix (CFO)
  • Dr. Dirk Biermann (CMO)
Services Electric power transmission
Revenue €9.9 billion (2017)[1]
€182 million (2017)[1]
Owner Elia System Operator (80%)
KfW (20%)
Number of employees
 1.043[1]
Parent Eurogrid GmbH
Website www.50hertz.com/en/
Map of transmission system operators in Germany

50Hertz Transmission GmbH (former name: Vattenfall Europe Transmission) is one of the four transmission system operators for electricity in Germany. It is a member of the European Network of Transmission System Operators for Electricity (ENTSO-E). It is wholly owned by Eurogrid GmbH, indirectly owned and managed by the Belgian transmission system operator Elia System Operator and Australian-based IFM Investors.

The company has headquarters in Berlin and owns the high power network in eastern Germany as well as the area around Hamburg. It operates the 220kV and 380kV networks and has about 10,200 km of power lines covering about 30% of Germany by area. The company employs 1.043 employees.

On 12 March 2010, Elia System Operator and Industry Funds Management acquired 50Hertz Transmission from Vattenfall. The deal was approved by the European Commission on 10 May 2010. [2]

On 23 March 2018, Elia announced it has decided to exercise its pre-emption right and to increase its share in Eurogrid, the holding company above 50Hertz, from 60% to 80%. The transaction price amounts to € 976.5 million.[3] Later that year, Elia announced the closing of the transactions with IFM and the German state-owned bank Kreditanstalt für Wiederaufbau (KfW) regarding a 20% stake in Eurogrid International. With the close of these transactions, KfW, on behalf of the German Federal Government, replaces IFM as shareholder in Eurogrid.[4]

See also

References

  1. 1 2 3 "50Hertz Annual Report 2017" (PDF). 50hertz.com. 50 Hz Transmission. Retrieved 2018-06-05.
  2. ↑ Foo Yun Chee (2010-05-10). "Elia's buy of Vattenfall's German grid cleared by EU". Reuters. Retrieved 2010-06-28.
  3. ↑ "Elia Press Release". eliagroup.eu. Elia Group. Retrieved 2018-06-05.
  4. ↑ Press release (August 22, 2018), GElia welcomes German Bank KfW as shareholder in transmission system operator 50Hertz Elia.

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