EPH buys stake in German power plant from NRG
PRAGUE, July 17 |
PRAGUE, July 17 (Reuters) - Czech energy group EPH has acquired a 41.9 stake in German power plant Schkopau from NRG Energy for 141 million euros ($173 million), EPH said on Tuesday.
The Schkopau plant burns lignite from the Profen mine owned by EPH's Mibrag unit, and the acquisition will help EPH develop a vertically integrated presence on the German market.
EPH acquired the stake in Schkopau, with 900 megawatts capacity, by buying Saale Energie GmbH from NRG, EPH said.
German utility E.ON holds a majority stake in Schkopau.
"The acquisition ... follows our acquisition of the mining company Mibrag. Thanks to the acquisition of Schkopau we will link coal mining with electricity production and we will ensure long-term sales for coal from the Mibrag mines," Jan Springl, head of EPH's EP Energy division, said.
EPH is owned by Czech billionaire Petr Kellner, investment group J&T, and businessman Daniel Kretinsky.
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