EP UK Investments has completed the acquisition of 80% of the shares of Tynagh Energy, an independent power producer in the Republic of Ireland that owns a 400MW CCGT in east County Galway. The sellers were EFS Tynagh Holding Company (part of GE Energy Financial Services) and GAMA Energy International. The acquisition was completed on 29 October and Mountside Partners remains a 20% shareholder.
This is the first acquisition by EPH in the Republic of Ireland and complements its existing portfolio in the United Kingdom.
Jan Springl, chief executive of EP Power Europe, said: “The acquisition of Tynagh complements our strategy to expand our presence in the European power generation sector. The power station is an important source of flexible, reliable, low cost energy across the electricity market in Ireland.”