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Acquisition of EPG Energy will enable companys expansion into green electricity supply for industrial customers
Erova Energy has today acquired 100% of EPG Energy, a UK-based energy supplier specialising in trading services for large industrial customers.
This transaction enables Erova and EPG Energy to expand into new areas such as fully backed green supply.
EPG’s focus on meter level logistics and Erova’s imbalance management expertise gives asset owners and suppliers access to fully outsourced energy operations.
Erova, established in 2015, provides energy management services, focusing on supporting the transition to net zero.
With 2022 turnover exceeding €500m, Erova now manages over 1GW of renewable and flexible generation across a range of route-to-market structures, including power purchase agreements and revenue optimisation services in Ireland and the UK.
Powered by technology and trading analytics, Erova’s focus is on risk management and revenue optimisation of a variety of generation technologies including wind, solar, hydro, bioenergy, and battery storage.
EPG Energy, trading as EnDCo, is an electricity supplier operating in the UK industrial and commercial market, providing its customers with direct access to the wholesale electricity market on a transparent and independent basis.
Ownership transfer of EnDCo to Erova will open new commercial opportunities for both EnDCo and Erova whilst maintaining EnDCo as an independent supplier.
Les Abbie, CEO at EnDCo said: “I am excited by the growth potential of teaming up with Erova.
“We will be able to move into new areas of the market and expand our customer base while continuing to operate the same business model.”
The acquisition was supported by Birketts on behalf of EPG Energy, while Burges Salmon advised Erova. |
