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October 30, 2019 6:00 am | FILED UNDER: business

Kretinsky’s EPH Secures Majority Stake In Tynagh Energy Limited

By William Malcolm Kretinsky EPH Group

EPH completes acquisition of 80% of shares of Tynagh Energy Limited

 

Daniel Kretinsky’s EPH acquired a majority stake in Tynagh Energy Limited, which operates a 400 megawatt (MW) power plant in Ireland.

 

EPH spokesman Daniel Častvaj announced in a press release on Tuesday. EPH did not disclose the transaction price. 80% of Tynagh‘s shares were acquired from EFS Tynagh Holding Company Limited and GAMA Energy International BV, entities of GE Energy Financial Services and GAMA Holding A.S., respectively. Mountside Partners Limited remains a 20% shareholder. This acquisition was completed on 29 October 2019.

 

Jan Springl, CEO of EP Power Europe, said: “The acquisition of Tynagh complements our strategy to expand our presence in the European power generation sector. The power station is an important source of flexible, reliable, low-cost energy across the electricity market in Ireland.”

 

The acquisition of a majority stake in Tynagh is, according to Castej, the first acquisition by EPH in Ireland. EPH recently also purchased the Ballylumford Gas Power Plant, Kilroot Coal Power Plant, and Battery Power Storage from the US AES Corporation in Northern Ireland. Northern Ireland AES assets purchased by EPH have a total installed capacity of 1.4 gigawatts.

 

EPH owns and operates facilities in the Czech Republic, Slovakia, Germany, Italy, Great Britain, and Hungary.

 

EPH consists of two primary divisions. EP Infrastructure (EPIF) and EP Power Europe. EP Infrastructure brings together EPH companies involved in the transmission, distribution, and storage of natural gas, electricity distribution, and heat production. While EP Power Europe overseas foreign electric producers and mining companies.

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