Eclipse Power Group, a wholly owned subsidiary of the Octopus Sky Fund, has agreed to acquire Vattenfall Networks Ltd, the independent network distribution operator (IDNO).
Eclipse Power Group owns and manages connection infrastructure across the UK. The company said the acquisition extends its distribution and transmission experience, allowing it to scale up the delivery of flexible power connections to projects ranging from housing developments to renewable energy and data centres.
Spencer Thompson, chief executive of Eclipse Power, said: “The acquisition of Vattenfall’s UK distribution business demonstrates our continued confidence in the IDNO model and in the energy infrastructure investment landscape. As the market evolves, larger IDNOs play a vital role alongside local DNOs, ensuring resilience, shared capabilities and long-term sustainability. Vattenfall is a strong cultural and technical fit for Eclipse, and we’re proud to bring together two highly skilled teams with strong IDNO expertise, which allows us to turbocharge renewable initiatives, provide greater consumer value and get critical infrastructure projects moving again.”
Stewart Dawson, Managing Director of Vattenfall Networks Ltd, added: “Vattenfall’s IDNO business has performed strongly since entering the UK market. Eclipse’s strength, innovative culture, and commitment to fossil-free solutions make it the ideal environment for us to continue to thrive.”