Mitsubishi-led consortium to scoop up European energy major Eneco in €4.1bn deal

Facebook
Twitter
LinkedIn
Reddit
Email
Image credit: Eneco Group

A consortium featuring Mitsubishi and Japanese utility Chubu is set to buy out European energy major Eneco as Mitsubishi targets further European growth.

The shareholders' committee, Eneco and the consortium have reached an agreement on the proposed sale of all shares in Eneco.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

In sealing the deal, the Mitsubishi-led consortium has fended off fierce interest from other would-be suitors including O&G major and Eneco compatriot Shell.

The €4.1 billion (US$4.51 billion) deal will see Mitsubishi take an 80% stake in the company with Chubu holding the remaining 20%, pending regulatory approval of the transaction.

See here to read this story full on sister title Current±

Read Next

May 24, 2024
Waaree Energies has signed an agreement to supply 445MW of modules to Statkraft India for a project in Bikaner, Rajasthan.
May 22, 2024
Government has a “significant” role in providing routes to market, according to speakers at Solar Media’s Renewable Energy Revenues Summit.
May 21, 2024
The ISO has granted DMEGC Solar its ISO 14067 certification, to hold it to high standards of carbon footprint reporting.
May 21, 2024
The World Bank and Masdar have announced a US$159 million financing package to support a 250MW solar-plus-storage project in Uzbekistan.
May 20, 2024
Avintia Energía plans to build an 850MW portfolio of greenfield solar projects with Italian oil giant Eni's subsidiary Plenitude in Spain.
May 17, 2024
GreenYellow has bought Grow Energy Management (GEM), acquiring its 120MW portfolio of PV projects in Portugal and Poland.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
May 29, 2024
11am (EDT) / 5pm (CEST)
Solar Media Events
June 4, 2024
London, UK
Upcoming Webinars
June 11, 2024
3:00 PM (BST) / 4:00 PM (CEST)
Solar Media Events
July 2, 2024
Athens, Greece