Shell keen to bid for Dutch Eneco - report

Eneco's Delfzijl Noord wind farm in the Netherlands. Source: Eneco (www.enecogroup.com).

January 15 (Renewables Now) - Royal Dutch Shell (AMS:RDSA) is mulling over a bid for Dutch power utility Eneco, which has over 1,900 MW of sustainable energy assets in its portfolio, the Telegraaf reported on Friday.

The Anglo-Dutch oil and gas major has hired an unnamed US-based merchant bank to assist in the potential bidding process for Eneco, sources from the banking industry familiar with the matter told the newspaper. The sale of Eneco, which is owned by 53 municipalities, could be worth EUR 3 billion (USD 3.6bn), but local authority shareholders and the company’s board are having a dispute on the possible sale, the newspaper writes.

Meanwhile, French oil giant Total SA (EPA:FP) has also sought for advisors this month regarding a potential bid for Eneco, according to the report. Among the other potential buyers of the Dutch utility are investment company HAL, Dutch pension fund PGGM, Japan’s Mitsubishi Corp (TYO:8058), Austrian energy group Vebund, private equity group CVC and French energy group Engie (EPA:ENGI).

Eneco's portfolio includes about 1,700 MW of available onshore and offshore wind power capacity, 142 MW of bioenergy and 76 MW of solar. Roughly 25% of its total supply comes from sustainable energy production, according to information on the company's website.

(EUR 1.0 = USD 1.220)

Join Renewables Now's free daily newsletter now!

More stories to explore
Share this story
Tags
 
About the author
Browse all articles from Veselina Petrova

Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription
\