French EDF completes exit from Dutch gas-fired power plant

January 27 (SeeNews) - French utility Electricite de France SA (EPA:EDF), or EDF, has completed the sale of its 50% stake in the 870 MW Sloe CCGT gas-fired power plant in the Netherlands to Czech energy group EPH.

The divestment was agreed in September as part of the French firm’s EUR-3-billion (USD 3.26bn) asset disposal programme. The financial details of the transaction remained undisclosed.

Completion of the deal came after the parties obtained all required regulatory authorisations, the company said in a statement.

EDF owned and operated 50% of the plant, jointly with its partner Pzem, a Dutch energy company that also sold its shareholding in CCGT. For the Dutch utility, the exit from the power plant was included in a separate preliminary agreement with a unit of EPH to sell its wholesale activities to the Czech group at an enterprise value of about EUR 150 million.

(EUR 1 = USD 1.088)