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Alpiq divests its shares in Gommerkraftwerke AG

Lausanne - Alpiq has sold its 26% share in Gommerkraftwerke AG to Groupe E, an energy supply company from western Switzerland. The power plant company runs three hydroelectric facilities in the upper Valais region with a total capacity of 132 MW. With this divestment Alpiq is taking another step towards a streamlined generation portfolio.

Alpiq signed the contracts for the sale of its shares in Gommerkraftwerke AG, which is headquartered in Ernen in the Swiss canton of Valais, in July 2015. On 31 August 2015, the sale has now been completed. The 26% share has been purchased by Groupe E, an energy supply company from western Switzerland with headquarters in Granges-Paccot, which has thus increased its stake in Gommerkraftwerke AG to 71%. The two companies have agreed not to disclose the price.

The divestment of Alpiq's stake in Gommerkraftwerke AG takes place within the framework of the transformation of the Alpiq Group, the objectives of which are to streamline the generation portfolio in order to reduce complexity, achieve a focused cost management and reduce the net debt. With a generation capacity of approximately 2,800 MW, hydropower remains a main pillar of Alpiq's generation portfolio. The Group intends to continue to optimise and consolidate its leading position in the field of hydropower and maintain its commitment to preserving Swiss hydropower.

Gommerkraftwerke AG operates three hydropower facilities in Ernen, Fiesch and Binn in the canton of Valais. The total capacity of the storage plants is 132 megawatt and the average annual production amounts to 290 gigawatt hours.

For more information about Gommerkraftwerke AG: