Czech energy group Sev.en Energy is acquiring a 50 per cent stake in the independent power generator InterGen.
InterGen has a portfolio capacity exceeding 4,000 MW with operations both in the United Kingdom and in Australia.
“InterGen has a very strong position in both the UK and Australian markets. We believe that conventional energy will remain a significant pillar in the energy mix of these markets. We see great potential for further development of InterGen’s production base,” said Alan Svoboda, head of international expansion for Sev.en Energy.
The other half of InterGen’s shares are owned by major Chinese energy companies China Huaneng Group and Guangdong Yudean Group.
“We look forward to working with the other shareholders and the entire InterGen team. We are convinced that together we will achieve further growth, as well as good returns on our investments,” added Mr Svoboda.
Sev.en Energy currently operates two lignite coal mines and four coal-fired power plant units in the Czech Republic. It employs more than 3,200 people and the value of consolidated assets is more than 850 million euros.