Eni said Wednesday it has completed the acquisition of 100% of the capital of the Belgian companies Nuon Belgium NV and Nuon Power Generation Walloon NV, as part of its strategy to consolidate its leadership in the European gas and electricity market.
The transactions were completed on the basis of the sale and purchase agreement with Nuon Energy, a subsidiary of Vattenfall AB, in July 2011. The contract was subject to the approval from the European Commission, obtained on December 7, 2011.
Founded in 2002 as a result of the liberalization of the Belgian energy market, Nuon Belgium NV operates in the national gas and electricity market serving around 550,000 connection points, including families and companies, with about 150 employees. Nuon Belgium offers its customers innovative products and services that can make their energy consumption smarter and more sustainable. Furthermore, through its subsidiary Nuon Wind Belgium, Nuon Belgium has an installed capacity of 4.5 MW of renewable energy.
According to the company, Belgian families and small to medium-sized enterprises will benefit from Eni’s entry in the retail gas and electricity market. Eni said it will reinforce the position of Nuon Belgium and expand its commercial services by improving the quality and competitiveness of its products, “thanks to the solid knowledge and experience it has gained through serving more than 8 million customers throughout Europe.”
Additionally, through its large and diversified gas portfolio sourced from Norway, Holland, Russia, Algeria, Libya, Qatar, Egypt, Oman, Nigeria and the United Kingdom, Eni is also able to provide reliable and competitive gas supplies, the company claimed.
Eni has been active in Belgium since 2008 following the acquisition of Distrigas, the leading provider of natural gas to retailers, power plants and industrial customers.