EP Energy Transition, the new controlling shareholder of LEAG

27. 12. 2023

EP Energy Transition (EPETr), a subsidiary of EP Corporate Group (EPCG), has been formed to expedite and enhance the management of the transition from coal assets to emission-free future. These assets are or were previously held by another subsidiary of EPCG – Energetický a průmyslový holding, a.s. (EPH).

In the recently completed first phase, 50 % of the shares of the LEAG group were transferred from EPH to EPETr. As a result, EPETr now owns 70 % of the LEAG group. The second phase, scheduled to be completed by the end of 2025, will involve the transfer of shares of the MIBRAG Energy Group (formerly JTSD group), which holds the German companies Mibrag and Saale Energie, to EPETr.

The primary focus of the EP Energy Transition group will be on developing renewable energy projects, targeting a total installed capacity of over 7000 MW. 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.