Alpiq has decided to divest its 25% share of the hydroelectricity company Forces Motrices du Grand-Saint-Bernard SA (FGB) to Romande Energie. Romande Energie, which already holds a 75% interest in FGB, will now become the sole owner. The parties agreed not to disclose the price.
This decision forms a part of the transformation of the Alpiq Group, the objectives of which are to streamline the generation portfolio, achieve a focused cost management and reduce the net debt. Hydroelectric power will remain a main pillar of Alpiq’s generation portfolio. The Group intends to consolidate its leading position in this field and maintain its commitment to preserve Swiss hydropower.
Forces Motrices du Grand-Saint-Bernard SA is based in Bourg-Saint-Pierre (Swiss canton of Valais). The purpose of the company is the development and operation of facilities in order to exploit the hydropower from the upper basin of the River Dranse d’Entremont. FGB owns the Toules dam and the Pallazuit power station, which has an installed capacity of 32 megawatts and generates approximately 98 million kilowatt hours per year.