Czech company Sev.en Global Investments has completed its acquisition of Delta Electricity including its assets in the Hunter Valley.
The sale is reportedly worth hundreds of millions of dollars and includes the company taking over Vales Point Power Station and Chain Valley Colliery.
The Foreign Investment Review Board approved the sale last week.
Delta Electricity agreed to the 100 per cent share sale to Seven Global Investments back in September.
Chief Executive of Sev.en Global Investments Mr Alan Svoboda said the acquisition of Delta is an important step in their energy movements in Australia.
“Delta is an important part of our growth plans in Australia. The positive work culture and quality of the assets aligns with our investment objectives of adding further generation capacity to our Australian portfolio.
In doing so, Sev.en is also uniquely positioned to maximise the benefit to local communities as dedicated long-term investor and operator. We are committed to support the energy transition by providing reliable power supply and backup capacity as needed. Sev.en is further expanding our presence in the region as we expand our local team with the necessary expertise required to be successful in Australia.”
Sev.en’s Australian investments include Delta, 100 per cent of the Salt Lake Potash project in Western Australia and a 50% interest in InterGen N.V. via its interests in the Millmerran and Callide power stations in Queensland
Sev.en said they are actively pursuing further opportunities to grow within the region and across a range of commodities.