Ardian exits Encevo to CSGI HK

During its ownership, Ardian worked alongside the public shareholders of the company to help Encevo adapt its strategy and organisation to reflect the transitioning European energy markets. A new strategic plan was implemented, which included a €1bn investment programme.

Encevo increased investments in renewables and energy services, particularly in Luxembourg and Germany.

With a new investor on board, Encevo said it was interested in industrial partnerships, such as with CSG, which is based in Guangzhou.

Previous funding
Ardian (then Axa Private Equity) acquired a 23.48% stake in the company from ArcelorMittal for €330m in May 2012. Ardian was the second largest shareholder in the company after the state of Luxembourg, which held just over a quarter. It subsequently acquired a further stake from E.ON and RWE in 2015.

Company
Headquartered in Esch-sur-Alzette, Luxembourg, and established in 2009, Encevo is an integrated utility company that generates and supplies power, including renewable energy. Since its launch in Luxembourg in 2009, the company has launched its business in neighbouring Germany.

Encevo operates in several different energy business fields through its two subsidiaries, Creos and Enovos Luxembourg. Creos manages electricity and gas grids while Enovos Luxembourg is responsible for the sale of energy to customers in Luxembourg and Germany. The company also holds interests in energy production assets, particularly in the renewable energy sector (wind, biogas, solar and hydro).

People
Ardian – Benoît Gaillochet (managing director).
China Southern Power Grid International HK – Hua Yang (president).

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• Ardian (formerly Axa PE)