21. 12. 2015

ČEZ submitted a non-binding offer for Vattenfall’s German assets

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.

Therefore, ČEZ submitted a non-binding offer for all the assets on sale, including hydropower plants. More information is part of the confidentiality agreement. 

The sale includes:

  • POWER PLANTS: Boxberg, Jänschwalde, Schwarze Pumpe, and Lippendorf Unit R
  • MINES: Jänschwalde, Nochten, Reichwalde, Welzow-Süd, and Cottbus Nord
  • 10 HYDRO PLANTS, which cannot be sold separately, without the lignite assets

Headquartered in the Czech Republic, CEZ group is an established, integrated energy group with operations in a number of Central and Southeastern European countries and Turkey. The Group's core business is the generation, distribution, trade in, and sales of electricity and heat, trade in and sales of natural gas, and coal extraction. The largest shareholder of its parent company, CEZ, a. s., is the Czech Republic with a stake of app. 70% in the share capital.

CEZ ranks among the top 10 largest utility companies in Europe both in number of customers and in market capitalization. It is the market leader in the Czech Republic in the areas of power generation, distribution and lignite mining.

Recently, CEZ acquired a minority stake in cleantech company Sonnenbatterie, Germany's largest supplier of battery systems for households and also a minority stake in Dresden based cleantech company Sunfire, which develops and market efficient energy conversion technologies (e. g. power-to-gas).