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International Internet Magazine. Baltic States news & analytics Saturday, 27.04.2024, 05:03

France's Idex closes acquisition of Danpower Baltic

BC, Vilnius, 29.10.2019.Print version
France's renewable energy group Idex, which is part of Antin, one of Europe's largest investment companies, has completed the acquisition of Danpower Baltic, a German-Lithuanian joint venture. Danpower Baltic is renamed to Idex Baltic, Idex said.

According to Idex Group President Thierry Franck de Preaumont, its experience will help strengthen the development of renewable energy in Lithuania.  


"We plan not only to effectively develop existing projects together with our partners, but also to invest in new ones," he said in in the press release. 


Idex purchased a 50% stake in Danpower Baltic from Enercity, a municipal company in Hannover, and another 40% from Geco Investicijos, a company controlled by Arturas Rakauskas, a co-owner of the Kesko Senukai DIY chain, and Zabolis Partners. Geco Investicijos keeps a 10% stake in Danpower Baltic.  


Founded in 1963, the Idex Group operates 60 biofuel boiler facilities and 16 waste-to-energy plants. It has posted 929 mln euros in revenue for 2018. 





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