September 22, 2008
Vattenfall to Make Offer for Eclipse Energy UK
Swedish power supplier Vattenfall has announced that it will make an offer to buy Eclipse Energy UK.
Eclipse's strategy is to develop, manage, and own projects dealing with renewable energy and natural gas. The company has a permit for the offshore wind farm project Ormond in northwestern England, a 150MW project, as well as natural gas projects, and five other wind power projects in southern Wales.Lars Josefsson, CEO of Vattenfall, said: "As part of our strategy to reduce emissions, Vattenfall has ambitious plans within the renewable energy sector. Vattenfall's view is that the UK is a suitable target market for its future renewables growth for a variety of reasons including a well-functioning support system, a deregulated and competitive market for electricity and openness to foreign investment."