17 May 2019
Prague / 17 May 2019 - The Sev.en Energy Group entered into an agreement on the acquisition of a 100% equity stake in Alpiq Generation (CZ) s.r.o., which operates CHP plants in Kladno and Zlín. The sales agreement was signed on 16 May 2019.The seller is Alpiq AG, a major Swiss electricity producer and energy service provider. Sev.en Energy intends to continue developing the acquired assets and to provide stable heat and electricity supply to the customers.
“The strategic transition between conventional energy and modern energy generating capacities is an opportunity for us. We want to be a part of this change in the position of those who ensure the stability and safety of supply while deploying new modern solutions. The acquisition of the Czech coal-fired power plants of Alpiq exactly fits within this strategy,” says Luboš Pavlas, Sev.en Energy’s CEO.
Alpiq Generation (CZ) s.r.o. operates three CHP units that can use a fuel mix that includes biomass and two flexible gas turbines in Kladno. The Kladno operation has been profoundly modernised in the past few years. Thus, its new K7 unit has replaced the obsolete coal-burning equipment and meets the stringent European environmental standards. In Zlín, the two CHP boilers burn coal and biomass.
“Following the successful acquisition of InterGen with its power stations in England and Australia the acquisition of the two CHP plants in the Czech Republic is another major step forward in pursue of our growth strategy. Sev.en Energy’s position on the Czech market has thereby been significantly strengthened,” says Alan Svoboda, Executive Director responsible for the Group’s expansion.
The actual takeover of the company will take place after approval from the Czech anti-monopoly office (the ÚOHS).
Last year, Sev.en Energy announced an ambitious programme of international expansion. In the Czech Republic, the Group operates two brown coal surface mines and four coal-fired power station units, which are currently going through an upgrade for CZK 7 billion. The Group employs more than 3,200 people. Its (pre-acquisition) consolidated assets amount to over EUR 850 million.
For more about the seller: www.alpiq.com