Sev.en Energy completed the acquisition of a 50% stake in Intergen from Ontario Teachers Pension Fund.

The prominent Czech industrial player, Sev.en Energy, completed the acquisition of a 50% stake in the multinational energy company, InterGen NV from Canada’s Ontario Teachers’ Pension Plan. Financial terms were not disclosed. InterGen is one of the leading independent power generators with assets in the UK and Australia. The company owns and operates three combined-cycle gas-fired power plants in the UK and has a stake in two, modern coal-fired power stations in Australia. The total installed capacity of the portfolio exceeds 4k MW as well as a 300 MW open-cycle gas-fired power plant currently under construction and expected to be completed in 2019. Furthermore, InterGen has several other energy projects in development. “Through the InterGen acquisition, the Sev.en Energy Group takes a very long step towards clean energy sources. The proportion of gas-fuelled power stations will now exceed that of coal-fired power stations and we are also preparing several other projects, including the cutting-edge electrical energy storage technology,” Alan Svoboda, Sev.en Energy head of international expansion.