Theme image. — © Chris Bosseloo
The Belgian municipalities are negotiating to bring the federal and Flemish governments on board with power grid operator Elia. That’s what De Tijd writes.
Today at 05:46
The municipalities, which own a 44.8 percent stake through their holding company Publi-T, have a plan to avoid losing control of Elia. The company will have to find a lot of fresh money in the coming years to finance the billion-dollar investments in energy transition in Belgium and Germany. According to estimates, Elia will not only have to take on additional debt over the next ten years, but also have to raise 4.5 billion euros in additional capital. If the municipalities want to maintain their interest, they would have to put an extra 2 billion on the table, money that is not there.
That is why we have been looking at attracting financial partners for some time. De Tijd has now learned that there is consensus that both the federal and Flemish governments should come on board.
The federal investment company SFPIM (formerly FPIM) would be willing to take a small minority stake in Publi-T. The Flemish PMV is ready to enter at the level below, in the yet to be established holding company with the working name New Transco, in which six Flemish intermunicipal companies will join forces. In addition, an enhanced role is reserved for the existing Flemish Energy Holding, which, in addition to intermunicipal companies, also includes the financial parties Belfius, KBC, Ethias and P&V. They can also provide fresh capital.
The operation should allow Elia to remain anchored in Belgium and ensure that Publi-T’s importance is not diluted in the coming years.