Swiss power group Alpiq has announced the upcoming sale of up to 49% of its hydropower portfolio. The company will open its hydropower portfolio to domestic and foreign investors and to energy utilities with end customers in the non-liberalised Swiss market.
Alpiq will seek to reduce its dependency on electricity prices on the wholesale markets; hydropower is currently being generated at a deficit due to the current regulatory environment as well as low wholesale prices. The group will seek to further reduce net debt and strengthen its balance sheet with the proceeds from investments in the hydropower portfolio.
At year-end 2015, Alpiq operated 2,674 MW of hydropower plants in Switzerland, that generated 6 TWh during the year. The group also operates 795 MW of nuclear capacity (5.9 TWh generated in 2015), 308 MW of renewable capacity (513 GWh) and 2,568 MW of thermal power plants in Europe (5.3 TWh).
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