Dravske elektrarne Maribor buys infrastructure firm RGP

Following the entrance into ownership structure half a year ago, Slovenian producer of electricity from renewable sources Dravske elektrarne Maribor Doo has paid EUR 6.9 million for a majority stake in construction business RGP d.o.o. The update reveals 5.1% remains in the hands of Termoelektrarna Šoštanj d.o.o., controlled by Holding Slovenske elektrarne, as is the buyer.

Soške elektrarne Nova Gorica Doo and coal miner Premogovnik Velenje d.o.o., another two members of the same group, were left with 4% each. Dravske elektrarne Maribor, also known as DEM, runs eight hydropower plants on the river Drava, three small hydroelectric facilities and four solar power units.

Premogovnik Velenje is undergoing restructuring. It has sold shares in Golte, Erico and Karbon. Before the latest transaction, it held 60.9% in RGP. The subsidiary was separated in 2003 as a package of noncore assets. Dravske elektrarne now boosted its stake to 86.9% from 30%.

As the acquisition was conducted internally, the former owner expressed satisfaction regarding the availability of construction and other services. It stressed RGP has competitive prices.

The target entity has the equipment and specific know-how needed in DEM’s current and planned activities, Andrej Tumpej asserted. The head of the hydropower plant operator highlighted the success in cooperation so far like in the project for preserving the energy potential of the Drava.

RGP also constructed a bridge and replacement road at the Markovci dam. It said it is expecting a boost in the demand from Dravske elektrarne given the strategy to expand to wind farms and add photovoltaic capacity and electricity storage.

The power producer recently said it would build wind power plants at Ojstrica, Paški Kozjak, and Rogatec in Slovenia’s northern and eastern parts. The installed capacity is projected at 46 MW and the expected output is 122 GWh per annum. At the moment, there are only two wind turbines in the whole country. DEM’s project is worth EUR 65 million.