The EU has formally approved the purchase of two of the most strategic energy assets across Ireland, allowing the transaction to reach final completion.
Energetický a Průmyslový Holding (EPH) closed on its acquisition of the Kilroot and Ballylumford plants from AES after the European Commission granted its approval under the EU Merger Regulation, concluding the proposed transaction raised no competition concerns.
International law firm Pinsent Masons advised EPH on the deal. Pinsent Masons Senior Associate Michael Hamill said:
“This deal brings an ambitious new player into the Irish energy sector. EPH is an experienced operator across Europe and we have worked with them particularly in Great Britain so we are pleased to facilitate our client moving into another one of our markets.
“With long established grid infrastructure and planning, Kilroot and Ballylumford are attractive and strategic energy assets, and offer strong opportunity for investment via new technologies.
“ISEM was always going to precipitate a period of change in the Irish market, and this announcement certainly represents some of that early movement.”