The acquisition of Delta Electricity Pty Ltd by Czech company Sev.en Global Investments is now complete.
Delta Electricity is the parent company of Vales Point Power Station, Chain Valley and Mannering collieries, all on the southern shores of Lake Macquarie at Mannering Park.
Sev.en’s Chief Executive, Alan Svoboda said Delta was an important part of the company’s growth plans in Australia.
“The positive work culture and quality of the assets aligns with our investment objectives of adding further generation capacity to our Australian portfolio,” he said.
“In doing so, Sev.en is also uniquely positioned to maximise the benefit to local communities as a dedicated long-term investor and operator.
“We are committed to support the energy transition by providing reliable power supply and back-up capacity as needed,” Svoboda said.
He said the 100 percent equity acquisition of Delta was completed on December 15, following all conditions precedent being met, including the granting of the necessary state and federal government approvals.
“Sev.en is excited to welcome all the Delta employees into the Sev.en family group.
“With an international portfolio of vertically integrated power generation plants, Delta strengthens Sev.en’s position in Australia.
“Delta is a significant contributor to the energy stability in NSW and Sev.en looks forward to bringing value to local communities through our global experience and as a responsible long-term operator with assets in Europe, the UK, the USA and in Australia,” Svoboda said.
Apart from Delta, Sev.en’s Australian investments also include 100 percent of the Salt Lake Potash project in Western Australia and 50 percent interest in InterGen N.V. via its interests in the Millmerran and Callide power stations in Queensland.
Svoboda said Sev.en was actively pursuing further opportunities to grow and expand in the region and across a range of commodities.
Sev.en is a private investment group from the Czech Republic that deploys long-term capital in growth, restructuring and special situations worldwide, primarily in the energy, mining and adjacent sectors.
The company website says Sev.en invests in transition towards a more sustainable future with zero carbon emissions in the long term, while striving for growth and prosperity.
The ageing Vales Point Power Station built in 1978 is scheduled to close in 2029.
In February this year Delta said it had completed preliminary investigations about what work was required to extend the life of the plant beyond 2029 and was committed to a transition to a renewable future.
The State Government is now considering a proposal to mine an additional 9.5 million tonnes of coal from Chain Valley Colliery and Mannering Colliery by prolonging their operations by two years until 2029.
The two underground coal mines in the southern waters of Lake Macquarie supply coal to Vales Point Power Station at Mannering Park.
Sue Murray