The Bulgarian Commission for the Protection of Competition has launched an investigation into the acquisition of the Bulgarian businesses of Swiss energy company Alpiq by Austrian-based Renalfa Group, as per the request of the buyer, competition authority announced.
In late March, Alpiq has agreed the sale of its energy operations in Bulgaria to Renalfa Group in an effort to focus on core markets in Western Europe and the Nordic region.
According to the agreement, Renalfa IPP, a joint venture between French investment fund Rgreen Invest and Austrian Renalfa Solarpro Group, will acquire the operational 72.5 MW Vetrocom wind farm with an average annual electricity generation of 135 GWh. Renalfa’s Bulgarian subsidiaries will also take over wind turbine operation and maintenance services provider Alpiq Wind Services, as well as electricity trader Alpiq Energia Bulgaria.
The transaction, agreed for an undisclosed amount, is subject to the approval by competition authorities. It is expected to be completed during 2023. Alpiq commissioned the Vetrocom wind farm near the city of Kazanlak in three stages between 2010 and 2012 with an investment of some 80 million euros. In 2017, Alpiq established operation and maintenance service provider Alpiq Wind Services.
Alpiq Energia Bulgaria is in charge of marketing the electricity generated by the wind farm as well as the purchase and sale of balancing energy in connection with Vetrocom and for third-party assets.
