Centrica has agreed a £170m deal to acquire Denmark’s Neas Energy, an energy management outfit which trades power from over 8GW of wind, solar and hydro projects across Europe.
The utility said the acquisition is “in line with Centrica’s strategy to expand its route to market services”.
The Aalborg-based Neas manages some 2500 energy assets and also provides risk management, supply management and consumption optimisation for wholesale electricity customers and smaller suppliers.
Centrica chief executive Iain Conn said: “Our new strategy recognises that the energy landscape is rapidly changing, with a trend away from large centralised power generation to decentralised technologies – much of it intermittent renewable generation.
“Neas has developed a business model and capabilities that are able to capitalise on this trend and, combined with Centrica’s existing strengths, this acquisition will allow us to accelerate our energy marketing and trading growth strategy and serve renewable and distributed energy customers at a wholesale level across Europe.”
The acquisition is expected to be finalised later this year.
Image: Centrica
