Severn Trent Green Power welcomes CMA Clearance
Friday 18th August
Severn Trent Green Power (STGP) welcomes the decision of the Competition and Markets Authority (CMA), following a detailed Phase 1 investigation, which has cleared the way for STGP to finalise its proposed acquisition of Andigestion Limited. You can read the initial acquisition announcement here.
The acquisition will bring an additional 45GWh of energy generation output every year and will give STGP new reach into Southwest England covering major cities such as Bristol, Gloucester and Exeter, in turn helping more businesses to process and recycle their food waste into renewable energy.
Christer Stoyell, Managing Director of STGP, said: “We welcome today’s decision by the CMA concluding its Phase 1 investigation and providing STGP with the clearance to complete its acquisition of the Andigestion portfolio. This acquisition will improve localised competition and expand the geographical coverage of our market-leading operations. We are extremely excited to welcome all incoming employees into the Green Power business. We believe the existing Andigestion portfolio has the potential for significant growth and we look forward to delivering this in the coming years.”
Notes to Editors:
Severn Trent Green Power is part of Severn Trent PLC, a publicly traded company on the London Stock Exchange.
STGP is one of the largest producers of renewable energy from food waste in the country, exporting roughly 300GWh of energy every year. A quarter of all UK households’ collected food waste is sent to its anaerobic digestion facilities for processing and recycling into clean energy that can power 60,000 homes.
In addition, the planned acquisition will help bolster the energy resilience of Severn Trent, STGP’s parent company, and will play a key role in delivering its Triple Carbon Pledge (net zero emissions, 100% energy from renewable sources, and 100% electric fleet) by 2030.
1. Herbert Smith Freehills (HSF) acted as legal advisors to Severn Trent
2. EY Corporate Finance and RSM acted as financial advisers to Severn Trent.
3. Milbank LLP acted as legal advisors to Summerleaze Group