Takeover bid

Vattenfall, Europe’s fifth largest electricity generator, has made an offer for the entire share capital of Lincolnshire-based energy developer, Eclipse Energy UK.



Eclipse has offered acceptances in respect of 91.2 per cent of its issued share capital. Vattenfall now intends to exercise its right to acquire the remaining shares of Eclipse to gain complete equity and strengthen its presence in the UK market.



Vattenfall currently owns the Kentish Flats offshore wind farm, which has a capacity of 90MW. Its latest acquisition will allow it to take a more active role in the UK‘s third licensing round for offshore wind development.



Eclipse is in the process of developing six wind projects in the UK. These include Eclipse’s Ormonde Project, comprising of 150MW of renewable electricity, and the Gwynt yr Hafan project in South Wales, involving five sites, each with the capacity to produce 58MW.



Lars Josefsson, chief executive of the Vattenfall Group, said: ‘As part of our strategy to reduce emissions, Vattenfall has very ambitious plans within renewable energy.



‘The UK is a prime target market for future growth, due to its well-functioning support systems, a deregulated and competitive market for electricity and openness to foreign investment, among other factors.



‘Eclipse is a sound company with long experience within this field and has developed important projects in line with our business and ambitions.’