French energy group EDF has agreed to sell its 25.04% stake in the Swiss power utility Alpiq Holding for CHF489m (€436m) to the Swiss investors EOS Holding and Primeo Energie. Until now, EOS and Primeo Energie held respectively 31.4% and 13.7% of Alpiq and they will each acquire half of EDF's stake, raising their stake in Alpiq to 43.9% and 26.2%, respectively. The transaction is subject to regulatory approval and expected to be completed by the end of June 2019.
Alpiq currently operates 6,100 MW of capacity spread across Europe, mostly in Switzerland (3,456 MW), Spain (846 MW), Italy (715 MW), Czech Republic (593 MW), Hungary (403 MW), Bulgaria (73 MW) and France (14 MW). Over 44% of the company's capacity consists in large-scale hydropower plants, while the remainder is spread among thermal power plants (38%), nuclear assets (12%) and small-scale hydropower, wind and solar PV (5.4%). In 2018, the group generated arond 15 TWh. In order to improve its financial situation, the group decided to merge its renewable and thermal power generation businesses in December 2018. As of January 2019, Alpiq is now split into three divisions: Generation Switzerland, Generation International and Digital & Commerce. This spin-off is slated to support the financial stabilisation of the company. However, the Generation Switzerland business division, which entails power generation from domestic hydropower and nuclear power, closed the year at a loss and down on the previous year.
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