At the end of September, ZEH N.V. and EP Netherlands B.V. (part of the EPH group) signed the sale and purchase agreement and today the transaction was completed. The trade name PZEM will continue to exist for PZEM Energy Company B.V. In the following we will also refer to PZEM. Both PZEM and ZEH will remain based in Middelburg, Zeeland.
View the press release
Via the links below you can open the press release. You can choose from the Dutch or English version of the press release.
PZEM has found a new owner in EP Netherlands, which will provide a strong boost for its balanced growth strategy. PZEM's unique positioning in the energy market gives EP Netherlands the opportunity to add value to further investments. PZEM is pleased that this collaboration can now start.
Chief Executive Officer (CEO) PZEM:
We are happy to expand our presence in the Netherlands with the acquisition of PZEM and Sloe. We are looking forward to start working together with employees of PZEM and Sloe power plant.
Chief Financial Officer (CFO) for EP Netherlands and PZEM
I am pleased that PZEM has found a strong new owner in EP Netherlands. In the search for a new owner for PZEM, it was an important condition for us to find a party that fits the business strategy. With EP Netherlands we seem to have found it.
Chief Executive Officer (CEO) ZEH
With EP Netherlands as the new shareholder and owner, PZEM is in an excellent position remain a stable and constant player in a vibrant market. The energy transition faces society with many challenges. For instance, how to deal with differences between supply and demand when the sun is not shining or the wind is not blowing. Thanks to our strong position in the energy market, we continue to be a trusted and stable supplier of energy. And thanks to our extensive knowledge and added international experience, we can now assist our customers even better. PZEM focuses on Asset Optimization & Trade, Analytics and the supply of energy products and services to the business market. With the Sloe power station, we make an active contribution to balancing the Dutch electricity grid.
PZEM’s position as a Dutch energy company remains unchanged. Our roots have shaped our character. PZEM was founded in 1919 as a provincial electricity company. We are still here more than 100 years later because we will keep innovating.
About EP Netherlands
EP Netherlands is a wholly owned subsidiary of EP Power Europe (EPPE). EP Power Europe (EPPE) is a unique energy utility, focusing mainly on power generation from conventional and renewable sources. EPPE operates on nine European markets – Germany, Slovakia, Italy, Switzerland, the United Kingdom, the Republic of Ireland, the Czech Republic, France and now also The Netherlands. Within its balanced portfolio of nuclear, hydro, coal, solar, wind, natural gas and biomass fueled power plants, EPPE manages a total installed capacity of 26 GWe.
EPPE is a subsidiary of Energetický a průmyslový holding (EPH) and was founded during 2016 by grouping several European assets into one subsidiary. The group gradually grows through new acquisitions and now ranks, based on the installed capacity, among the top 10 largest European energy companies. The head office is located in Prague. EPH is a vertically integrated energy company with activities across the entire energy value chain. Examples include activities in the field of electricity production, mining, heat generation, trade, supply, gas transport and storage. EPH has a broad portfolio of production assets through coal, gas and biomass. In total, more than 24,000 people work for the group.
M: +31 (06)20706641
Niels Unger, CEO
Frank Verhagen, CEO
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Frequently asked questions
Who is EP Netherlands?
EP Netherlands, a subsidiary of the Czech energy group EPH, has two gas-fired power plants in the Netherlands. The Rijnmond power station in Rotterdam Pernis has been acquired from Blackstone and the Sloe power station in the province of Zeeland has been acquired for 50% from EDF S.A. and 50% as part of PZEM. With a total installed capacity of 1,670 MW, EP Netherlands will become a relevant player in the Dutch energy market, with a share of approximately 7.5% of the total conventional installed capacity. EP Netherlands ensures a stable energy supply in the complex energy transition.
Who is EPH?
EPH is a leading European energy company with operations in the Czech Republic, Slovakia, Germany, Italy, Ireland, the United Kingdom, France and Switzerland. The head office is located in Prague. EPH is a vertically integrated energy company with activities across the entire energy value chain. Examples include activities in the field of electricity production, mining, heat generation, trade, supply, gas transport and storage. EPH has a broad portfolio of production assets through coal, gas and biomass. In total, more than 24,000 people work for the group. EPNetherlands B.V. is a wholly owned subsidiary of EP Power Europe (EPPE). EPPE is a subsidiary of Energetický a Průmyslový Holding (EPH) and was founded in 2016 by grouping several European assets into one subsidiary. The group is growing steadily through new acquisitions and is now one of the top 10 largest European energy companies based on installed capacity.
Will the name PZEM disappear?
For now, the name PZEM Energy Company will continue to exist.
What does a takeover mean for the staff?
The sale of PZEM to the Czech company EPH has no consequences for the personnel of PZEM Energy Company for the time being. The employees will be guaranteed their jobs for the next two years.
What is the impact for customers?
The name PZEM will continue to exist. The agreements as made and laid down in contracts remain in force. Our contact details or codes will not change either. In addition, we will of course remain available via the trusted telephone numbers, website, portals and we can be expected to provide the service that customers have come to expect from us.
What will ZEH do?
The main task of the Zeeuwse Energie Houdster Maatschappij (ZEH) is to hold shares in N.V. EPZ. Based on this main task, ZEH ensures that the production of EPZ is brought to the market and is responsible for managing the risks associated with holding the shares in EPZ. In addition to the interest in EPZ, the share interest in BMC Moerdijk BV will also be held by ZEH, as well as a few other more modest participations. In addition, ZEH is responsible for managing the liquid assets that ZEH must maintain as a shareholder of EPZ. Excess liquidity is distributed to shareholders. In addition, ZEH has the task of promoting nuclear energy in the Netherlands in coordination with EPZ.
After the sale, the ZEH website will be live.