Greenchoice announced the acquisition of a stake in Energie Transitie Groep

21 okt Greenchoice announced the acquisition of a stake in Energie Transitie Groep

Greenchoice has entered into an agreement to purchase 20% of the shares in Energie Transitie Groep (ETG), with a call option for the remaining shares. With the acquisition, Greenchoice reinforces its position in the competitive energy market as the leading green energy supplier.

Axeco Corporate Finance is pleased to have advised Greenchoice

Greenchoice announced to acquire a 20% stake in Energie Transitie Groep with a call option for the remaining shares. ETG consists of Huismerk Energie N.V. (renewable energy for consumers), De Groene Stroomfabriek (renewable energy for businesses) and Energy Trading Company (sourcing of energy). ETG was founded in 2012 and focuses on supplying green energy and innovative solutions.

The strategic partnership contributes to both energy providers’ ambition to accelerate the Dutch decentralised energy transition and is the second acquisition this year for Greenchoice, after the acquisition of Qurrent that was announced in August this year. With the acquisition, Greenchoice reinforces its position in the competitive energy market as the leading green energy supplier.

“Together with Energie Transitie Groep, we’re taking the next step to enhance our positions on the competitive energy market”, says Martin van Sleeuwen, financial director of Greenchoice. “For Greenchoice, it means that we improve scale to ensure long-term success and lasting impact.”

Greenchoice’s participation means further growth potential for ETG. “We have chosen Greenchoice very selectively as strategic partner, as the company has a comparable sustainable vision and through its scale guarantees continuity. Together with the new shareholder, we can continue being successful and investing in the energy transition’s acceleration”, says Peter den Biesen, director ETG.

Call option

The cooperation between both parties could go even futher in the future. “We obtained the rights to purchase the remaining shares”, says Van Sleeuwen. “Climate conscious consumers and companies need to be assured of a strong, green player in the energy market in the future. Greenchoice sees opportunities to be that strong player. The road there will be through a phased approach – also in the interest of our customers and employees”

About the transaction

The transaction is expected to be completed early 2020. This way, Greenchoice will grow its total customer base to over 600.000 and more than 200 local energy projects.

About ETG

ETG provides the supply of sustainable electricity and gas to small and large consumers on the Dutch market. ETG focuses on energy produced in the Netherlands through local and regional initiatives.

About Greenchoice

Greenchoice is an energy supplier with 581,000 private and 47,000 business customers. They produce and supply sustainable electricity from Dutch soil and also supply gas. They compensate CO2 emissions from the gas consumption of their customers by planting trees and protecting forests. They also develop and manage services and products themselves or together with customers and energy cooperatives to save, generate and store energy and to coordinate energy supply and demand as well as possible.