PW Energy has raised capital from SSEH

The shareholders of PW Energy have raised capital from Stredoslovenská energetika Holding, a. s. (SSEH) for a geothermal project in Žiar nad Hronom. The newly formed strategic partnership aims to develop 20 MWe of installed electrical capacity and additional residual heat for future use in the municipality. The location is in the final stages of environmental impact assessment.

PW Energy operates in the field of renewable energy sources with a focus on projects that utilize geothermal energy. PW Energy’s primary objective is the production of electricity from geothermal energy sources and the subsequent cascade use of residual heat for district heating, greenhouse heating, wastewater treatment, heating of public pools and other industrial and food production processes.

SSEH is an incumbent electricity distribution and supply company in approximately one third of Slovakia. It is controlled by EPH, a Czech energy group that owns and operates assets in the Czech Republic, Slovakia, Germany, Italy, Ireland, the UK, France and Switzerland. EPH is a vertically integrated energy utility covering the complete value chain, ranging from highly efficient cogeneration, power and heat generation, natural gas transmission, gas storage, to heat and electricity distribution and supply. The scope also includes trading and logistics platforms, gas infrastructure management and real estate development.

Oaklins’ team in Slovakia acted as the exclusive advisor to the seller and the management of PW Energy in the preparation of the sale process and due diligence, the approach and parallel negotiations with potential buyers, and assisted them until closing.