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Südwest Konsortium purchases 24.95% stake in transmission system operator TransnetBW from EnBW

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About EnBW

With a workforce of some 27,000 employees, EnBW is one of the largest energy supply companies in Germany and Europe. It supplies electricity, gas and water together with infrastructure and energy-related products and services to around 5.5 million customers. In the company’s transformation from a traditional energy provider to a sustainable infrastructure group, the expansion of renewable energy sources and of the distribution and transportation grids for electricity and gas are cornerstones of EnBW’s growth strategy and the focus of its investment spending. Between 2023, and 2025, EnBW plans gross investment totaling €14 billion, largely in accelerating the implementation of the energy transition. EnBW aims for renewables to account for over half of its generation portfolio by as early as the end of 2025 and to phase out coal by the end of 2028. These are key milestones on the way to the company being carbon-neutral by 2035.

About Südwest Konsortium

Südwest Konsortium, the consortium of financial institutions, insurers and corporations investing in TransnetBW, consists of many Baden-Württemberg savings banks together with L-Bank, BGV Badische Versicherungen, Württembergische Gemeinde-Versicherung, Stuttgarter Lebensversicherung, SV SparkassenVersicherung and Evangelische Landeskirche Württemberg. All members of our investor group regard themselves as long-term financial partners of TransnetBW who aim through their investment to make a significant contribution to the improvement of Germany’s energy infrastructure and the success of the energy transition. The consortium is led by the SV SparkassenVersicherung insurance group with the support of LBBW Corporate Finance as financial advisor. The investment held by the Südwest Konsortium members is managed by derigo GmbH & Co. KG, an investment management company with longstanding experience in the infrastructure sector.

Amount TransnetBW

As the transmission system operator, TransnetBW secures the electricity supply for around eleven million people in the German state of Baden-Württemberg. TransnetBW is building the infrastructure for the energy transition by maintaining, optimizing and expanding the electricity grid to meet future needs. The grid serves an area of 34,600 square kilometers. All players in the electricity market are able to use it without discrimination and on market terms. In this way, TransnetBW provides the energy for everyone in Baden-Württemberg.

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