Published 19 July 2012
Energeticky a prumyslovy holding (EPH) has acquired its NRG Energy's ownership stake in a 900MW coal-fueled power station, Schkopau, located near Halle, Germany, for ?141m.
The Schkopau power station is jointly owned by Saale Energie, a wholly owned subsidiary of NRG and E.ON Kraftwerke with 41.9% and 44.4% equity share.
NRG president and CEO David Crane said Schkopau has been a solid performer in its conventional fleet for many years.
"However, given NRG's focus on retail electricity, conventional generation in our core domestic markets, and fast-growing clean energy businesses, we can use the sale of non-core assets like Schkopau to invest in initiatives that leverage our core facilities and operations," Crane added.
NRG will use the net proceeds from the transaction to increase its restricted payment availability under its senior notes and credit facility by an equivalent amount.
Deutsche Bank acted as the financial advisor to NRG.
Energeticky a prumyslovy is a Czech Republic-based coal mining and electricity company.
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