Electricity

Petrol sells stake in Gen-I to Gen-EL

Published

June 22, 2016

Country

Comments

0

Share

Published:

June 22, 2016

Country:

Comments:

0

Share

IG energetski sistemi (IGES) d.o.o., part of Petrol Group, agreed to accept EUR 45.1 million for its half of ownership in electricity and natural gas supplier Gen-I d.o.o., headquartered in Krško, in a deal with Gen-EL d.o.o. The transaction will be carried out in two parts: one by the end of this year, following the fulfilment of suspensive conditions, and the second by mid-2018, according to Petrol.

The other 50% in ownership is held by Gen Energija d.o.o., also a Slovenian company from Krško. Gen-I, on the other hand, controls a half of the buyer, Gen-EL, while Gen Energija and Petrol have 25% each, meaning Petrol will keep a share of ownership.

Croatian national power company HEP Group and state-owned Gen Energija of Slovenia had reportedly been planning to acquire Gen-I, the latter with its pre-emptive right. HEP and Gen Energija control nuclear power plant NEK Krško, while its power is sold by Gen-I. The supplier operates in more than 20 European countries, and has 15 subsidiaries: in Austria, Italy, Hungary, Romania, Bulgaria, Serbia, Bosnia and Herzegovina, Croatia, Macedonia, Kosovo*, Albania, Greece, Turkey, Ukraine and Georgia.

* This designation is without prejudice to positions on status and is in line with UNSCR 1244/99 and the ICJ Opinion on the Kosovo declaration of independence.

Related Articles

Brite Solar agrisolar panel plant Greece 2024

Brite Solar to complete agrisolar panel plant in Greece by end-2024

23 April 2024 - Greek startup Brite Solar is building a production line in Patras for transparent solar panels for agrivoltaic production

green wolt scotland floating wind farm

Green Volt, world’s largest floating wind project, obtains planning approval

23 April 2024 - The project has now received all its planning approvals and remains on track to be the first commercial-scale offshore wind farm in Europe

Solar-power-plants-North-Macedonian-industrial-zones-supply-exporters-EU

Solar power plants in North Macedonian industrial zones to supply exporters to EU

23 April 2024 - Solar power plants in industrial zones in North Macedonia will enable manufacturers exporting their products to the EU to avoid CBAM

Municipality Chalandri Athens solar energy community citizens

Municipality in Athens to launch solar energy community with citizens

22 April 2024 - The local authority in Chalandri called on citizens to join its energy community by investing EUR 2,000 to EUR 3,500 in a solar power unit