September 13, 2019 / 2:34 PM / 18 days ago

Grid operator TenneT reports 9% drop in 2019 operating profit

AMSTERDAM, March 12 (Reuters) - Grid operator TenneT reported a 9% drop in 2019 operating earnings on Thursday and repeated it will need fresh capital to build the infrastructure needed to realize government plans for more renewable energy.

In its 2019 annual report, TenneT said operating earnings had fallen to 753 million euros ($851 million) from 826 million euros a year earlier, after capital spending surged to 3.06 billion euros from 2.25 billion euros a year before.

The group is the largest grid operator in Germany and the Netherlands.

$1 = 0.8850 euros Reporting by Toby Sterling

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