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Alpiq opens Swiss hydropower portfolio to investors

  • Alpiq is opening its hydropower portfolio to investors
  • Swiss majority shareholders have already expressed interest
  • In opening the hydropower portfolio, Alpiq is limiting its dependency on wholesale prices and further reducing net debt
  • Portfolio streamlining of non-strategic assets will continue to be pursued in order to additionally reduce net debt
  • Energy trading and Energy Services offer growth potential and will be the focus of targeted development

Lausanne – Owing to the extremely challenging conditions, Alpiq has decided on structural measures and will make up to 49 per cent of its hydropower portfolio available to investors. Potential investors include domestic and foreign investors with a long-term investment horizon in sustainable energy generation. Alpiq will also open the portfolio to energy utilities with end customers in the non-liberalised Swiss market. In doing so, this part of the portfolio will be vertically integrated in the value chain from generation to the end customer, so that it can once again be operated profitably. Swiss majority shareholders have already expressed their interest. Investment in the portfolio offers energy utilities the opportunity to supply their end customers with domestic, eco-friendly electricity from hydropower in the long term.

Alpiq reducing dependency on wholesale prices

In opening the hydropower portfolio, Alpiq is reducing its dependency on electricity prices on the wholesale markets. Hydropower, which is being generated at a deficit due to the current regulatory environment as well as low wholesale prices, will be repositioned on a more solid, sustainable base. In addition to establishing a more sustainable business, Alpiq will further reduce net debt and strengthen its balance sheet with the proceeds from investments in the hydropower portfolio.

Alpiq retains majority share in the hydropower portfolio

Alpiq will keep up its firm commitment to Swiss hydropower, and hence retain the majority interest in the portfolio. As a reliable, competent hydropower specialist, Alpiq ensures efficient portfolio and asset management, as well as value maximisation of hydropower.

Portfolio streamlining of non-strategic assets to continue

In the course of on-going portfolio streamlining, Alpiq will continue to consistently assess interests in non-strategic assets and, where feasible, divest in order to further reduce net debt. Furthermore, the company is determined to follow through with its on-going cost reduction programme to increase efficiency.

All these measures will ensure Alpiq’s capital market viability.

Energy trading and Energy Services offer growth potential

Alpiq’s energy trading and Energy Services businesses are not impacted by the planned structural measures. Today, both areas already offer innovative solutions in response to technological change toward de-centralised electricity supply and storage. Energy trading and Energy Services offer growth potential and will continue to be developed in line with the available financial resources.