Eneco invests in the German market with acquisition of Nordgröön from Agder Energi

Eneco has acquired the company Nordgröön from the Norwegian power utility Agder Energi, thus strengthening its energy management activities in Germany, together with its German subsidiary LichtBlick.

Eneco’s Chief Strategic Growth Officer Kees-Jan Rameau: “Playing a role in the growing and pivotal German market for direct marketing of renewable energy and virtual power plant services is key for Eneco in becoming a leading player in energy management. Nordgröön’s networks and client base provide a good basis for these ambitions. In combination with LichtBlick we are now a full-fledged partner for our clients in linking renewables and flex capacity to supply, thus allowing us to further expand our activities in Germany.”

LichtBlick’s Managing Director Dr. Enno Wolf: ”We are very pleased with the acquisition; Nordgröön is a real gem in the German energy market. Eneco and LichtBlick have ambitious goals for customer growth, building an asset portfolio and providing best in class energy services to customers. Nordgröön is a perfect fit to our joint strategy.”

Nordgröön offers services in energy optimisation, synchronisation and integration of renewable energy sources in Germany. It handles energy sales on behalf of owners of wind turbines, solar power plants and biogas installations in the German market. The company is located in Medelby in northern Germany, close to the Danish boarder.

A market with exciting opportunities
“We are pleased to have found a buyer for Nordgröön who will develop the company further. We will continue our business activities in Germany with Entelios AG, which manages and optimises power consumption for large energy-intensive industrial companies and provides services to the national grid-companies. We see exciting opportunities to further develop our positions in Germany, at the same time pursuing opportunities in the Norwegian and Nordic markets by developing new sustainable services and industries. The sale of Nordgröön is a consequence of setting priorities in a market with many opportunities”, says Anders Gaudestad, Executive Vice President Energy Management and Trading at Agder Energi.

The acqusition is still subject to regulatory approvals.