Sinergy-deal starts new chapter in ALTEO Group’s story

ALTEO Group closed one of the largest energy market acquisitions among private companies in May 2015. Following the obtainment of necessary permits and the fulfillment of other conditions stated in the contract, Synergy Energy provider, Investment and Consulting ltd. became the property of the upcoming, listed alternative energy company. The acquisition covered Sinergy’s shares in its 11 subsidiaries as well, thus nine project companies completely, while two partially came under ALTEO ownership.   

ALTEO became the leading player of the domestic energy sector’s second line following the deal. Its power plant-portfolio was increased by 41.5 megawatt electricity and 220.6 megawatt heat production capacities. The dynamically developing company’s energy trade portfolio strengthened significantly after the deal: it will be able to sell the produced electricity to end users and other industry players via diversified channels, by the obtained energy producing capacities and power plant control centre.

Regarding the deal, Attila Chikán Jr., CEO of ALTEO group emphasized: “A flexible company needs to realize the tendencies to constant change in the energy structures’ philosophy of operation. The future clearly points to the »smart energy management« approach, which, on the producers’ side is described by particularly high efficiency and the increasing integration of renewable energy sources. On consumers’ part it is about innovations targeting improved energy efficiency and energy-saving, while for energy partners and service providers it is related to the increasingly complex serving of customer needs by innovative products and services. This operational and service approach is a crucial part of the strengthened ALTEO Group’s strategy. We will continue along this philosophy in the future.”

ALTEO Group’s power plant portfolio was broadened with additional, renewable energy source-using and traditional, highly efficient energy producing systems, by the integration of Synergy. The company possesses numerous know-hows on the field of complex energy services, which includes the improvement and operation of existing, and the design and implementation of new energy systems. With the company, ALTEO Group gained a virtual power plant with a close to 40 megawatt capacity, to which the groups existing energy producing capacities can be connected easily.