RWE clinches Borssele deal

20 May 2011


The ownership of the Netherlands’ only operating nuclear power plant is to be split between German group RWE and Dutch utility Delta after the two companies brought their legal dispute to an end.

Under their agreement, RWE will own 30 per cent of the Borssele plant and Delta 70 per cent. The deal gives RWE a stake in the nuclear industry outside its home territory, where the future of nuclear power still hangs in the balance.

RWE was to originally have taken a 50 per cent stake in the 485 MWe Borssele nuclear power plant in 2010 as part of its takeover of Dutch utility Essent. Delta, which owned 50 per cent of the plant through its joint venture with Essent – EPZ – opposed the sale of Essent’s share and the inclusion of the plant in the Essent takeover deal was dropped.

Essent’s 50 per cent share in Borssele has remained in the hands of Essent’s previous shareholders, who will now receive €609 million from RWE and €137 million from Delta, according to media reports.

Borssele provides around four per cent of electricity needs in the Netherlands. Both Delta and Energy Resources Holding (ERH) – the company made up of Essent’s former shareholders – have filed applications to build new nuclear units at the site.




Linkedin Linkedin   
Privacy Policy
We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.