Stibbe advises RWE on the acquisition from Vattenfall of the state-of-the-art gas-fired power plant Magnum with a capacity of 1.4 gigawatt and a 5.6 megawatts solar plant at Eemshaven, the Netherlands.
With the acquisition, RWE aims to develop Eemshaven into one of the leading energy and hydrogen hubs in Northwest Europe and to actively support the decarbonisation of the industry in the Netherlands. The Magnum plant can be made technically suitable to co-fire hydrogen by up to 30% as of today. It may be possible to convert Magnum to rely on hydrogen as its sole fuel by the end of the decade.
The agreed purchase price corresponds to an enterprise value of EUR 500 million.
Please click here for the press release of RWE.