Macquarie Asset Management has reached an agreement to sell Macquarie European Infrastructure Fund 4's stake in Energie Steiermark to the Provincial Government of Styria for a purchase price of €525 million.1
Energie Steiermark is one of the largest energy distribution and service companies in Austria, with subsidiaries in Slovenia, Czech Republic, France, and Germany. Headquartered in the province of Styria, Energie Steiermark operates a 31,300-kilometre electricity grid network and a natural gas supply network of around 4,200-kilometres. In addition, the business provides district heating, e-mobility services, and electricity generation from renewable energy sources, including wind, hydropower, solar, and biomass plants.
Hilko Schomerus, a Managing Director at Macquarie Asset Management, said: "We are delighted to have supported Energie Steiermark as it has continued to adapt to the evolving needs of the communities it serves. Energie Steiermark's ongoing commitment to providing sustainable energy solutions to consumers and businesses will play an important role in accelerating the energy transition of Austria and its neighbours."
Since Macquarie Asset Management's investment in 2015, Energie Steiermark has continued to strengthen its energy transition plans. The business aims to significantly expand the role for clean energy within the grid through additional investment in smart grid infrastructure alongside the deployment of new wind, solar and hydropower capacity. Last year, Energie Steiermark began building one of the first standalone production facility for green hydrogen in Austria.
The transaction is expected to reach financial close in Q1 2023.
