TNB acquires 80% stake of UK based renewable energy enterprises
Date: 2018-03-04   Author: Pankaj Singh  Category: #industry

TNB acquires 80% stake of UK based renewable energy enterprises

Tenaga Wind Ventures UK Ltd, a wholly owned unit of Tenaga Nasional Bhd reportedly acquired 80% stake in two UK based renewable energy enterprises namely Bluemerang Capital Ltd and GVO Wind Ltd for £77.37 million. During an exchange filing, TNB reported that the acquisitions were concluded through share purchase agreements with Tanzanite B.V. & Catalin Breaban of Bluemerang Capital Ltd and Georg von Opel of GVO Wind Ltd.

According to the Star Online, the acquisition will result in the addition of 26.1 megawatts to the national utility company’s international renewable energy portfolio and will consequently raise it to around 280 MW. TNB remarked that the 26.1 MW energy is produced by 53 operational onshore wind turbines which has caused the two UK companies together to own the largest Feed-in Tariff energy portfolio in the country.

It was reportedly stated by TNB that the fixed enterprise value of the 53 wind turbines was agreed to be £171.23 million and the acquisition price of 80% of the equity was based on this enterprise value. During its conclusion the deal was also based on the working capital adjustment and net debt.

The acquisition has been purported to be a part of the Five-Year International Expansion Roadmap planned by TNB and additionally funded by borrowings and internally generated funds by the company. TNB plans to become one of the leading global utility players by 2025 apparently, under the Reimagining Tenaga strategy it has recently adopted. According to TNB, the acquisition of these onshore wind assets is a part of the above-mentioned strategy. TNB plans to optimize the size of the RE portfolio through greenfield development or through the acquisition of similar and complementary technologies., claim sources.

TNB affirms that the acquisition of wind portfolio is a low risk and profitable investment as it involves no exposure to construction and planning risks. Incidentally, the wind portfolio offers young assets of 2.5 years that has an estimated life utility of about 25 years.



About Author


Pankaj Singh

Pankaj Singh

Pankaj Singh Develops content for Algosonline, Market Size Forecasters, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

Read More

More from Pankaj


Post Recommendents

Stents industry to witness robust technological innovations with ongoing R&D activities
Author: Pankaj Singh

One of the fastest emerging verticals within the healthcare and medical devices space, the global stents market is set to witness numerous interesting trends in the coming years. Ongoing research and development in the...


Comprehensive Analysis on Bath Fittings and Accesssories Market based on types and application
Author: Ashwin Naphade

The latest Bath Fittings and Accesssories market research added by Market Study Report, LLC, delivers a concise outline regarding the potential factors likely to drive the revenue growth of this industry. The report delivers valuable insights on m...


Gynecological Device Market Size Outlook 2025: Top Companies, Trends, Growth Factors Details by Regions, Types and Applications
Author: Partha Ray

This report Added by Market Study Report, LLC, focuses on factors influencing the present scenario of the ' Gynecological Device market'. The research report also offers concise analysis referring to commercialization aspects, profit estimation an...