Pavel Tykač’s People Already Buying European Power Stations
Topic: The CCG and Sev.en Group
28 February 2018 | E15 | Page 4 | Business
* The new Sev.en Energy Group wants to invest in conventional power generating capacities and is also planning to buy coal mines.
Several European coal and gas fired power stations may change hands to be owned by the new energy group, Sev.en Energy, held by billionaire Pavel Tykač as early as this year. “We have some talks under way and more opportunities are emerging. We want to focus on all European countries,” says Alan Svoboda, Sev.en Energy’s Executive Director.
For example, Greece is quite heavily dependent on electricity generation from coal and the European Union is pressuring on the Greek government to split up the country’s energy monopoly. This would provide an opportunity for acquisitions to international players. Sev.en Energy has one billion euro for acquisitions at the first stage and it can boost this firepower by debt finance. The Group wants to buy individual power stations as well as packages of assets of which their owners want to divest themselves.
“We are also ready to buy power stations together with coal mines. Coal and gas fired power stations will continue to constitute an important component in the European electricity industry for many years,” adds Mr Svoboda.
In the Czech Republic, Mr Tykač’s company owns two brown coal surface mines and the Chvaletice power station, where it has upgraded two units by now. Mr Tykač also wants to use the team that he has put together thanks to the Chvaletice project in other countries as well.
They can work on upgrades of acquired power stations and/or on their extension to include additional installations.
“These can be, say, gas turbines that can quickly start to supply electricity when demand peaks. Another option is investment in biomass firing. We are also interested in buying into the heat supply industry,” says Mr Svoboda.
Sev.en Energy has set out on a path trodden in Europe by Energetický a průmyslový holding (EPH) for a few years. In its subsidiary, EP Power Europe, EPH has already collected coal and gas fired power stations acquired in the United Kingdom, Germany and Italy. The two groups fought over Sweden-based Vattenfall’s power stations and mines in Germany some time ago; in the end, EPH has acquired them.
Gabriela Sáričková Benešová
mluvčí skupiny Seven Energy
Václava Řezáče 315,
434 01 Most, Czech Republic
Tel: +420 476 203 141
GSM: +420 725 327 758