AEW Energie AG has acquired a 23% stake in Kraftwerk Ryburg-Schwörstadt AG, which operates the 120-MW Ryburg-Schwörstadt (KRS) AG hydro plant in Switzerland.
The stake was sold by the canton of Aargau, which has held it since the new license for the project was granted in February 2010. When the plant was re-licensed, the canton of Aargau received its stake in the power plant company as a compensation waiver. AEW will take over the share package of 6,900 shares on Jan. 1, 2022, at a purchase price of CHF150 million (US$162.2 million).
With the sale to AEW, the block of shares remains indirectly with the canton, as AEW is 100% owned by the canton; this means that the corresponding added value remains in the canton.
With the acquisition, AEW can expand its production portfolio by 170 GWh per year and increasingly supply its customers with sustainably produced electricity from the region, according to a release.
KRS AG is the most powerful run-of-river hydro plant on the Upper Rhine, according to AEW. Its annual production is around 740 GWh. Shareholders from Switzerland and Germany each hold half of the facility.
“With this acquisition, we are expanding our in-house production portfolio with climate-friendly regional electricity for our customers. This corresponds to our long-term corporate strategy and ensures electricity production from the region also for the future,” explains Hubert Zimmermann, chief executive officer and head of production at AEW.