Kilroot
The EU has approved the sale of Kilroot (pictured) and Ballylumford power plants to Czech energy firm EPH. BRIAN LAWLESS/PA
It has been confirmed that Czech energy firm Energetický a Prumyslový (EPH) has been granted approval by the European Commission for the acquisition of the Kilroot and Ballylumford power plants in County Antrim, Northern Ireland from the AES Corporation.
Michael Hamill, a senior associate of the law firm Pinsent Masons, which advised EPH on the deal said: “EPH is an experienced operator across Europe and we have worked with them particularly in Great Britain so we are pleased to facilitate our client moving into another one of our markets."
"With long established grid infrastructure and planning, Kilroot and Ballylumford are attractive and strategic energy assets, and offer strong opportunity for investment via new technologies. ISEM (Integrated Single Electricity Market) was always going to precipitate a period of change in the Irish market, and this announcement certainly represents some of that early movement.”
The deal is part of an agreement that AES entered into in April whereby it would sell its interests in six sites in the UK and Jordan for a total of £162-million.
As part of the deal struck, AES agreed to sell its 100% interest in the 708 MW Ballylumford gas-fired power plant and its 99% interest in the 701 MW Kilroot coal- and oil-fired power plant, as well as the 10 MW Kilroot Energy Storage facility.
Speaking at the time AES president and chief executive officer Andrés Gluski said the sale was a result of ongoing company consolidation.
“In line with our business strategy, we continue to reduce the number of countries in which we operate and focus our growth efforts in fewer markets, and especially in renewables, energy storage and LNG," he said.
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