EP UK Investments Limited (“EP UKI”) has completed the acquisition of 80% of the shares of Tynagh Energy Limited from EFS Tynagh Holding Company Limited and GAMA Energy International BV, entities of GE Energy Financial Services (“GE EFS”) and GAMA Holding A.S. (“GAMA”), respectively. Mountside Partners Limited remains a 20% shareholder. This acquisition was completed on 29 October 2019.
Tynagh Energy Limited is an independent power producer in the Republic of Ireland and owns a 400MW Combined Cycle Power Plant in east Co. Galway. This is the first acquisition by EPH in the Republic of Ireland and complements its existing portfolio in the United Kingdom.
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.”
EP UKI is 100% owned by EP Power Europe, a.s. (“EPPE”) and EPPE is a wholly owned subsidiary of Energetický a průmyslový holding, a.s. (EPH).
October 29th 2019