Eneco to invest more in renewables after purchase of Eni Belgium

Dutch utility Eneco Holding NV announced today it has agreed to take over the Belgian subsidiaries of Italy’s Eni SpA (BIT:ENI), including some local wind power assets.

The agreed transaction envisages the acquisition of Eni gas & power NV and Eni Wind Belgium NV. It includes the purchase of three wind turbines that currently belong to Eni Belgium.

Eneco said in a statement that it intends to “use its greater commercial clout as a result of the acquisition to invest more in local wind and solar energy”. The Rotterdam-based company’s existing business in Belgium supplies renewable electricity generated by 86 wind turbines and 250,000 solar panels. Next year, it expects to start construction of the 370-MW Norther offshore wind park in Belgian waters.

“This acquisition fits in well with Eneco Group's strategy: we want to grow in supplying renewable energy to customers, grow in developing smart energy services, and grow in several North-West European countries among which in Belgium, where we have been active for years,” said Kees-Jan Rameau, chief growth officer of Eneco Group.

Eneco gave no financial details about the transaction, which is subject to clearance by the relevant authorities. Following the takeover, Eneco will be supplying more than 1 million households and 55,000 business customers with electricity and gas, it said.

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