22 February 2018 | Press release | Seven Energy
Pavel Tykač is entering the European energy market through Seven Energy, a new group he is currently forming. His primary intention is to grasp attractive acquisition opportunities in Europe, thereby widening his companies’ current radius of action from predominantly production to strategic business. He is ready to invest more than a billion euro.
“I have decided to expand to the European energy markets through Seven Energy for a number of reasons. We have excellent human resources and plenty of capital, we are ready to grow, and the current situation in Europe offers highly attractive opportunities,” says Pavel Tykač.
The group tried its hand at foreign acquisitions two years ago when it joined a bidding competition for a part of the Vattenfall mining and energy group’s assets. However, in order to focus its endeavour on international markets more meaningfully, the group has had to enhance its expert backing and preparedness and address these opportunities in a targeted and systematic manner.
Seven Energy will rely on a top-notch expert team headed by Alan Svoboda. ČEZ’s former head of strategy and Sales Director will serve as an Executive Director at Seven Energy, and directly in charge of the group’s strategic development and international expansion.
“We are interested in all acquisitions into which we can bring added value. We want to stay in the energy sector, in particular, conventional energy where we have a robust know-how. In addition to coal and gas-fired power stations, which will continue to be irreplaceable in many countries’ energy systems for a long time, we are also looking at cutting-edge distributed generation and consumption technologies. We are also interested in opportunities to supply energy to final customers, including energy-saving technologies. We want to do more than invest: we want to integrate our acquisitions with our existing operations for synergies and develop them on a long-term basis,” explains Alan Svoboda.
This strategy will be supported by another expert, Michal Skalka, in the past the main architect of ČEZ Group’s strong and successful trading. In the Seven Energy group, he heads Sev.en Commodities, the company that is taking over all of the group’s trading activities at the European level this year. Besides developing commodity trading, Michal Skalka’s team will also contribute to commodity market analyses and business outlooks.
Jan Žižka, who played the key role in the upgrade of ČEZ Group’s extensive conventional portfolio in the Czech Republic, is the third prominent personality in Seven Energy’s management. He has been at the helm of Sev.en Engineering since 2017. This company is responsible for engineering and expert technical activities in the group. The retrofit of two units of the Chvaletice power station, a project that the group was compelled to carry out on its own last year, was a strong impetus for the formation of this company. Today, Sev.en Engineering is becoming an extremely important element for international expansion.
Entering into the European energy sector logically rounds out the path on which Pavel Tykač set out in 2006 when he bought into a then existing coal mining group in Northern Bohemia. Backed by a strong management team and traditional know-how, the group now possesses superior competences and experience and is thus in the best position to develop into a successful and respected business entity in Europe as well.