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Friday, 26.04.2024, 06:29
France's Idex buys Danpower Baltic
The transaction of 90 % of shares will be completed subject
to the conclusions of the government commission over Idex's compliance
with national security interests, Idex said.
"We hope our experience of more than 50 years in the
areas of heating and innovative energy will let us, together with partners, not
only effectively implement the ongoing projects but also invest into new ones,"
Idex President Thierry Franck de Preaumont said.
In his words, the transaction is important for Idex
as it seeks to become on the major players in the renewable energy market,
providing green energy production and related services.
Meanwhile, Danpower CFO Burkhard Vogel said in
the statement the decision to sell the business in Lithuania was determined by
shanges in Danpower's main shareholder Enercity's business development
strategy.
Vogel told BNS Lithuania earlier Danpower Baltic had
constantly felt interest from potential investors.
Over the five years of its activity, Danpower has
invested around 100 mln euros in Lithuania. The company operates 6 biofuel
boiler-houses and a cogeneration plant in Vilnius, Kaunas and Joniskis.
Operated by Hanover's municipal enterprise Enercity,
Danpower sold all of its 50% of Danpower Baltic, and Idex
bought another 40% from the Geco Investicijos investment group which
will have 10% after the transactions is completed.
A year ago, Danpower Baltic Under was granted
permission to produce electricity in Lithuania's second-largest city of Kaunas
for a higher feed-in rate under the amicable agreement between Danpower and
the Energy Ministry, signed in May, 2018.
Under the deal, all consumers in Lithuania will pay Danpower
around 18-25 mln euros over the next 12 years.
Established in 1963 and headquarters in Paris, the Idex
group operates 41 centralized heating supply and cooling networks and employs
almost 4,000 specialists. Its turnover stood at 929 mln euros last year.