Following the approval granted by the Albanian and European competition authorities, EVN’s acquisition of the stake in the project company Energji Ashta has been legally completed. EVN thus holds over 50% of Energji Ashta – general management of the construction and operation of the Ashta power plant remains with VERBUND.
Effective today, EVN has legally become a fifty percent shareholder of Energji Ashta, the project company of the Ashta power plant project. The prerequisite for this was the approval granted by the Albanian and European competition authorities, the Albanian licensor (METE), as well as by the energy regulator (ERE).
Fulfillment of conditions precedent
At closing, all necessary statutory company resolutions have been adopted.
VERBUND and EVN have agreed in principal on the financing conditions. On behalf of EVN, Peter Stelzer was named as the second managing director of Energji Ashta. He will be responsible for the area of financing and procurement. Dietmar Reiner, the managing director appointed by VERBUND, will be in charge of all other responsibilities and will become chairman of the Managing Board.
With that, the first international partnership between VERBUND, Austria’s largest power provider and one of the leading producers of electricity from hydropower in Europe, and EVN, an Austrian based energy and environmental service company that operates in 18 European countries, has been established.