Energetický a průmyslový holding, a.s. (EPH) is a Czech Republic (Prague) based company currently investing mainly in the energy sector in Europe, founded in 2009.[2] The group's business lines covers the complete value chain ranging from highly efficient cogeneration, power generation, and natural gas transmission, gas storage, gas and electricity distribution and supply.[2] The majority owner is Czech entrepreneur and lawyer Daniel Křetínský (94%), who is ranked among the richest Czechs in the long term and according to Forbes he became a dollar billionaire in 2017.[3] The remaining 6% is distributed among selected managers of EPH. EPH employs almost 25.000 people and comprises over 50 companies.[2]
Ownership
The company was founded in August 2009 as an indirect subsidiary of J&T Finance Group. Initially, its ownership structure consisted of PPF (40%), J&T (40%) and Daniel Křetínský.[4] In August 2012 PPF converted part of its debt for EPH shares and increase its share to 44.4% (decreasing J&T share to 37.04% and Daniel Křetínský share to 18.52%).[5] In June 2014 PPF sold its stake for 1.1 EUR billions,[6][7] since then ownership Daniel Křetínský and Patrik Tkáč own 2/3 share and J&T 1/3 share.[8] As of December 31, 2014 shareholders were equally BIQUES LIMITED (part of J&T PARTNERS I L.P.), MILEES LIMITED (part of J&T PARTNERS II L.P.) and EP Investment S.à r.l. (owned by Daniel Křetínský), while rest of 44.4% was treasury stock.[1] Treasury stocks were cancelled in September 2015.[9]
In October 2015 EPH announced its plan to reorganise all of its Central European infrastructure assets under one holding company, EP Infrastructure, and possibility of the disposal of a minority stake in that holding, including an initial public offering.[10]
In November 2016 EPH announced change in its shareholder structure and sale of 31% stake in EP Infrastructure to Macquarie Infrastructure and Real Assets (MIRA). After this transaction Daniel Křetínský will ultimately own 94% of EPH and the remaining 6% will by owned by managers of EPH.[11]
Since December 2018 EP Power Europe, a subsidiary of EPH, is negotiating to acquire all the French assets of German group Uniper. These assets include two gas-fired power plants with a total capacity of 828 MW, two coal power plants with an installed capacity of 1,200 MW, a 150 MW biomass power plant and 100 MW of wind and solar resources.[13][14] Agreements were signed in July 2019.[15]
On 30September 2016, Vattenfall completed the sale of its German lignite facilities to the Czech energy group EPH and its financial partner PPF Investments. Named afterwards LEAG.[18] The following assets were transferred:
An October 2016 blog post speculates that the new owners are banking on government compensation for the forced early retirement of these assets. They may either seek capacity payments for staying online and providing backup or they may decommission and sue for lost profits.[19]
In June 2015 it was announced, that EPH will acquire 95.6% stake in Budapesti Erőmű from Électricité de France. Budapesti Erőmű owns three gas-fired cogeneration plants in Budapest region: Kelenföld Power Station [hu] (installed capacity of 188 MWe and 395 MWth), Újpest Power Station [hu] (105 MWe and 421 MWth) and Kispest Power Station [hu] (113 MWe and 366 MWth). These plants meet almost 60% of the demand for heat in Budapest and generate approximately 3% of Hungarian electricity.[23]
In December 2017 a consortium Mátra Energy Holding of EP Power Europe (EPH subsidiary) and Status Power Invest acquired 72.6% stake in Mátrai Eromu Zrt. Company is operating 950 MWe Mátra Power Plant as well as Visonta and Bükkábrány coal mine.[24]
Italy
In January 2015 it was announced, that EPH will acquire part of E.ON assets in Italy:[25][26][27]
coal-fired power plant Fiume Santo in Sassari (600 MWe)
In October 2019 EP UK Investments, a subsidiary of EP Power Europe, acquired 80% share of Tynagh Energy Limited, owner of the 400 MWe gas-fired Tynagh Power Plant.[28][29]
Poland
PG Silesia [pl] (99.8% stake) - coal mining company
Slovakia
In January 2013, EHP acquired from GDF Suez and E.ON Slovak Gas Holding, owner of 49% share in Slovenský plynárenský priemysel for approximately €2.6 billion.[30] In September 2013 Government of Slovakia agreed to reorganization of SPP. As result Slovakia will gain 100% stake SPP, but EPH will gain 49% stake and management control in SPP Distribúcia, that will acquire most of current SPP subsidiaries.[31][32]
In December 2013 EPH acquired 40.45% stake in gas storage operator NAFTA [sk] from E.ON,[34][35] while 56.15% stake is held by EPH controlled SPP Infrastructure.
In December 2015 EPH signed a contract with Enel to buy 66% stake in Slovenské elektrárne, former Slovak electric utility state monopoly. In the first phase, Enel will sell 50% of holding company of 66% stake. In the second phase, a put or a call option for remaining 50% of holding company can be exercised after receiving the operation permit of Units 3 and 4 of the Mochovce Nuclear Power Plant, which are currently under construction.[36]
January 2023 EPH acquired via its Dutch subsidiary EPNL the 50% stake of EDF in 870 MW Sloe powerstation.49 At the same time the other 50% of Sloe powerstation was acquired by an overtake of the Dutch energy company PZEM. With these deals EPNL got a 100% ownership on Sloe powerstation near Vlissingen and also a 50 km naturalgas pipeline was included in this deal, what supplies the Sloe powerstation.
In the same periode EPNL take over the 800 MW gasfired Rijnmond Energy powerstation near Rotterdam from GSO Capital Partners.
In May 2023 EPNL acquire the Dutch assets of Castleton Commodities International (CCI). This deal include the 425 MW gasfired Maasstroom Energy powerstation nearby Rotterdam (and beside Rijnmond Energy) and a 50% stake in the 950 MW gasfired Enecogen powerstation in Europoort.[1]
^"Vattenfall completes German lignite business sale"(PDF) (Press release). Stockholm, Sweden: Vattenfall. 30 September 2016. Retrieved 2016-10-06. Vattenfall has completed the sale of its German lignite business to the Czech energy group EPH and its financial partner PPF Investments.
