ČEZ today submitted a non-binding offer to acquire Vattenfall’s German lignite and hydro activities. These assets represent an interesting opportunity to expand business of CEZ in a neighboring region. In Europe where coal is still crucial for the overall energy supply, CEZ has extensive know-how in operation of conventional power plants and of lignite mining, as a bridge technology to more renewable energy sources.
At today’s meeting, the ČEZ Supervisory Board re-elected Martin Novák as member of the board of directors for the next four-year term that runs from May next year. “With the approaching end of the current office term of this key manager, the company in this way expressed that it also counts on him for the future. Thanks to this, continuity shall be maintained in key areas of company management, especially at present when he was in the scope of recent changes delegated to head the entire Operations Team from next year,” explained Chairman of the Supervisory Board prof. Václav Pačes.
ČEZ Group resolves to improve its energy efficiency and reduce CO2 emissions per MWh generated in the Czech Republic by 46% before 2020 as compared to 2001. ČEZ thus joins other energy companies that declared their specific goals in the context of the Paris climate conference. ČEZ is actively negotiating in Paris for effective carbon pricing and interconnection of CO2 trading, and is one of about 100 international companies and other organizations that have already supported “business proposals.”
INVEN CAPITAL has acquired a minority stake in Sunfire, a company developing and industrialising the most progressive energy technologies that help reduce CO2 emissions and develop decentralized energy generation. ČEZ has thus joined forces with other venture capital funds sponsored by EDF and Total as well as with KfW, a German state-owned development bank.
Today, the CEZ Group officially informed the Government of Bulgaria of its intention to initiate international arbitration on the grounds of Bulgaria’s failure to protect its investment unless the current situation is quickly remedied and the damage caused duly compensated. The Group resorted to taking this step after a series of interventions by Bulgarian institutions that damaged the business operations of ČEZ companies in Bulgaria, and further as a result of the critical situation in the local energy market that has as yet failed to show any improvement. The claim amounts to several hundred million EUR.
Its EBITDA in the first three quarters of the year was CZK 48.4bn; net income adjusted for extraordinary effects was CZK 18.6bn. Despite a significant decrease in expected production this year, CEZ Group confirms its outlook for expected net income for the entire year of 2015 at a level of CZK 27bn.
ČEZ today sent a Statement of Interest to acquire Vattenfall’s German lignite and hydro activities. Offered assets represent an interesting opportunity to expand business of CEZ with a number of synergies. On the contrary CEZ is ready to be a reliable partner for the region with extensive know-how in operation of conventional power plants and of lignite mining.
The unplanned shut-down of the second block ended today at 10:45 o'clock upon its reconnection to the grid. This block should achieve its full power output in the evening. The block has to be shut down for repair of the generator duct in the non-nuclear part of the power plant.
Operating Profit Before Depreciation (EBITDA) for the first half of this year reached CZK 35.5 bn while Net Profit adjusted for extraordinary items reached CZK 15.7 bn. Despite the continuing decline in the electricity selling prices, Operating Revenue rose to CZK 102.9 bn, primarily due to growing volumes of power, gas and heat sold to end customers. CEZ Group expects to generate a Net Profit adjusted for extraordinary items at CZK 27 bn by the year end.
INVEN CAPITAL, daughter-company of CEZ Group, invests in Sonnenbatterie, the German-based global leader in energy storage systems
INVEN CAPITAL, a company founded by the CEZ Group to invest in innovative energy solutions, has invested in Sonnenbatterie, a German company specialized in developing, manufacturing and selling battery based intelligent energy storage systems. Based in Bavaria, the company has developed a unique and reliable solution and has become a global leader in technologies for storing energy from solar panels and other renewable sources of energy for households and commercial clients. INVEN CAPITAL participated in a capital increase and joined Sonnenbatterie alongside with SET Ventures, Munich Venture Partners and eCAPITAL as a financial investor.