Asterion Industrial Partners, a Spanish infrastructure investor, has signed a purchase agreement for the acquisition of the energy utility STEAG from the consortium Kommunale Beteiligungsgesellschaft (KSBG), which represents the municipal utilities of the cities of Dortmund, Duisburg, Bochum, Essen, Oberhausen, and Dinslaken, for an enterprise value of around €2.6bn.
STEAG (owned by municipalities) has a capacity of 3.7 GW in Germany (2022). The company closed five coal-fired units in 2017-2018 totalling1.4 GW, as well as the 370 MW unit Duisburg-Walsum-9 in 2021. In order to face the current energy security issue, the Weiher (656 MW) and Bexbach (726 MW) units were returned to the market from the grid reserve in October 2022, and Bergkamen and Völklingen-Fenne (717 MW and 35 MW, respectively), originally planned to be decommissioned in October 2022, will stay in the market until March 2024. The company plans to close its coal-fired power plants by mid-2026.
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