Křetínsky’s EPH to buy two gas fired power plants in Great Britain

21-06-2017

Energetický a průmyslový holding, or EPH, is gearing up to buy two gas fired power plants in Great Britain through daughter company EP UK Investments, the Czech News Agency reports. The price tag is expected to be in almost 10 billion crowns.

Langage power plant, photo: jeff collins, CC BY-SA 2.0Langage power plant, photo: jeff collins, CC BY-SA 2.0 Czech businessman Daniel Křetínsky and EPH are set for a major acquisition in Great Britain, according to the Czech News Agency: the purchase of two gas fired power plants from current owner Centrica. The cost of the deal? A reported 9.5 billion crowns, the equivalent of around 361 million euros or 318 million pounds; the news was confirmed by EPH’s spokesman Daniel Častvaj.

The plants, in Langage and South Humber Bank, will complete the firm’s UK portfolio which already boasts plants in Eggborough and Lynemouth. The transaction should be completed within the second half of 2017, Mr Častvaj added.

EPH now owns roughly fifty 50 companies across Europe involved in coal mining, electricity production, and heat supplies. In the Czech Republic, for example, the company controls electricity producer Elektrárny Opatovice and heating plant Plzeňska energetika. Mr Křetínsky became the majority owner of EPH just this year; currently he holds a 94 percent stake.