LEAG Innovative Energy acquires 20% of LEAG from PPF Investments
13. 12. 2023
LEAG Innovative Energy, a subsidiary of EP Corporate Group, announces an acquisition of a 20% stake in LEAG through a recently signed agreement which is subject to customary regulatory approvals. Once completed, the new distribution of shares shall be as follows: 50% controlled by EPH (via its subsidiary EP Power Europe), 30% controlled by PPF Investments, and 20% owned by LEAG Innovative Energy.
In line with previous announcements, the EP Corporate Group is actively working towards establishing a EP Energy Transition subsidiary. EP Energy Transition will serve as a dedicated group to accelerate energy transition and green transformation in utmost focused and efficient way.
EP Energy Transition will be formed by renaming LEAG Innovative Energy.
The EP Energy Transition group will eventually consist of a portfolio of assets under the umbrella of German companies LEAG (EPH will be holding no shares in LEAG by the end of 2023) and JTSD group (EPH will be holding no shares in JTSD by the end of 2025).
Pavel Horský, member of the board of EP Corporate Group: “The EP Energy Transition group will focus on the development of renewable energy projects with an estimated total installed capacity of 7+ GW, the replacement of existing networkcritical power generation capacities with highly efficient hydrogen-ready gas power plants, other energy transition projects and active cooperation with unions, regions, and governments to carry out the energy transition with a minimum socially adverse impact. The expected total investment in these transformational projects is currently estimated to be around EUR 10 billion.”
As a result of this plan, EPH will be free of almost all coal assets by the end of 2025.