The EQT Infrastructure II Fund has acquired the remaining 49% stake in EEW Energy from Waste from E.ON.
EEW is an energy-from-waste company from Germany, also active in Luxembourg and the Netherlands. It operates 19 waste incineration plants and produces electricity, district heat and steam for industrial use. 13 of the 19 plants are majority owned by EEW and 6 are operated by EEW under long-term agreements. The plants are modern facilities with state-of-the-art technology, frequently updated to meet the latest technological standards.
EEW operates an installed waste capacity of around 4.9 million tonnes making an important contribution to the European sustainable economy and playing a vital part in the local energy infrastructure, producing 1,900 GWh of electricity and 3,000 GWh of heat and steam.
In parallel with the transaction, the EEW Advisory Board has been strengthened with additional expertise from the waste management and energy sectors. The Board, chaired by Jürgen Rauen (former President of Veolia Environment Deutschland and former CEO of Sulo Group) has been complemented by Amedeo Vaccani (formerly in various senior roles at ABB Power Generation) and Ewald Woste (formerly CEO of Thüga).
"Over the last two years, EQT Infrastructure and E.ON have jointly contributed to EEW's development, allowing EEW to improve its competitive position. The acquisition of the remaining stake is a result of EQT Infrastructure's strong belief in EEW's further potential and also a continuation of the fund's strategy to invest in the European energy sector. We look forward to continue working together with EEW's management, employees and the board of senior industry experts to take the Company to the next level."