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EPH to buy Kilroot and Ballylumford power stations from AES

Power News - Published on Fri, 26 Apr 2019

Image Source: Wikipedia
The AES Corporation has agreed to sell its generation assets at Ballylumford and Kilroot, with a combined installed capacity of 1.4GW, in Northern Ireland, to EP UK Investments Ltd. The acquisition includes a combined cycle gas turbine a battery storage facility, open cycle turbines and a coal fired power station. EP UKI will acquire AES entire Northern Irish business including all assets, systems and key management and staff. This represents the first acquisition by EPH into Northern Ireland’s energy market, which forms part of the all-island Irish market. EP UKI is 100% owned by EP Power Europe as and EPPE is a wholly owned subsidiary of Energeticky a prumyslovy holding, as.

Mr Jan Špringl, Vice-Chairman of the Board of Directors of EPPE said that “We are pleased to make this entry into Northern Ireland’s electricity market. We consider the acquisition of AES’ portfolio as an important step in our strategy of increasing our generation capacity across Europe. We believe these power stations are of strategic importance in Northern Ireland and we look forward to working with the site teams to be part of the next phase of the history of these assets. This potential acquisition perfectly fits to the strategy of EPH to further expand its presence in the European power generation sector. It is in line with our mission which is to provide a reliable and cost competitive power supply to European citizens and industry through our balanced and diversified generation fleet.”

The transaction is subject to EU merger clearance and is expected to close during the summer of 2019.

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Posted By : Sanju Moirangthem on Fri, 26 Apr 2019
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