Alpiq Digital AG has signed a share sales agreement with Reserve Power Holdings (Jersey) Limited, a Quinbrook group company, for the sale of Flexitricity, the pioneering leader in the demand side response industry in Great Britain and closed the transaction on 9 September 2020. Alpiq regularly reviews its portfolio of subsidiaries and products as part of its customary reviews of the composition of its business activities and, as a result, makes selective investments or divestments. Following its strategical and geographical focus, Alpiq is withdrawing from the UK market for demand response management.
The sales proceeds amount to around CHF 18 million. The three defined sales criteria – price, transaction security and contractual conditions – were met cumulatively.
Alpiq’s strategy focused on climate protection and security of supply
Alpiq stands for Swiss power production, comprised of hydropower and nuclear energy, as well as international power production, comprised of new renewable energy plants and flexible gas-fired combined-cycle power plants in Europe. Alpiq’s core business also covers power plant management and selling the energy generated in its own plants and in third-party plants, direct marketing for business customers and international energy trading.
Headquartered in Edinburgh, Flexitricity partners with businesses throughout Great Britain to provide reserve electricity to the National Grid. www.flexitricity.com
Quinbrook is a specialist investment manager focused exclusively on lower carbon and renewable energy infrastructure investment and operational asset management in the US, UK and Australia. www.quinbrook.com
Find more information about Alpiq on www.alpiq.com