Independent producer of electricity, Czech company "Energo-Pro" a.s. expands its activities in Galicia, Spain. The Company completed Xallas Electricidad y Aleaciones, S.A.U ("Xeal") and Feroe Ventures & Investments S.L.U. ("Feroe") acquisition of 100% equity capital of companies from leading global investment firm SIXTH STREET. This is one of the largest Czech investments in Spain. To finance the transaction, "Energo-Pro" a.s. received a loan of 300 million EUR from J.P. Morgan and Goldman Sachs. Xeal owns and operates ten hydro power plants with a capacity of 167 MW and two ferrosalloy plants.
"The acquisition of hydro power plants in Galicia, Spain, is part of our business diversification aimed at decreasing macroeconomic and geopolitical risks. For the first time, we entered the largest and most promising market of the Eurozone. With this purchase, the volume of sales in euros will increase, which will positively affect the capital structure of Energo-Pro," - said Petr Milev, Executive Director of "Energo-Pro Group".
ENERGO-PRO has been specializing in hydrogeneration for almost 30 years. The company owns and operates 34 hydro power plants in Bulgaria, Georgia and Turkey with a total installed capacity of 859 MW. It is also active in Latin America and is currently building a new hydro power plant in Colombia.
The group owns an electricity distribution network in Bulgaria and Georgia, which serves more than 2.5 million customers. It is one of the largest employers, with more than 9,000 employees.
Companies affiliated with ENERGO-PRO also own and operate two hydro power plants in Turkey: Alpaslan II and Karakurt with a total installed capacity of 377 MW, as well as two hydro power plants in Czech Republic. The total installed capacity of the group exceeds 1248 megawatts. The industrial backbone of the group is Litostroj Group, a leading manufacturer of hydro-electromechanical equipment for hydro power plants.