EPH completed the divestment of the LEAG group
27. 12. 2023
In accordance with the previous announcement, Energetický a průmyslový holding, a.s. (EPH) has completed the divestment of its 50% stake in the LEAG group. The parent company of the LEAG group is now the newly established EP Energy Transition (EPETr), which, like EPH, is a subsidiary of the EP Corporate Group.
The second phase, scheduled to be completed by the end of 2025, will involve the transfer of shares in the MIBRAG Energy Group (formerly JTSD group) which holds the German companies Mibrag and Saale Energie, to EPETr.
As a result, and together with a closure of hard coal power plants and transitioning of other asset to low or zero emission sources, EPH will become almost fully coal free by 2025 and fully coal free by 2030.
The primary focus of the EP Energy Transition group will be on developing renewable energy projects, targeting a total installed capacity of over 7 GW. Further, this initiative also includes replacing existing network-critical power generation capacities with highly efficient hydrogen-ready gas power plants. Additionally, the group will engage in other energy transition projects and actively collaborate with unions, regions, and governments to ensure a socially responsible energy transition.
The anticipated total investment in these transformative projects is currently estimated to be around EUR 10 billion.