January 18 (SeeNews) - Bulgaria's competition regulator said on Monday that it granted approval to MET Renewables Holding, part of Switzerland-based energy company MET Group, to acquire 100% of wind power company Enel Green Power Bulgaria from Italy's Enel Green Power.
Through the deal MET Renewables will acquire an indirect interest in Enel Green Power Bulgaria's 14 fully-owned subsidiaries which operate wind turbines with a total capacity of 42 MW, the Commission for Protection of Competition (CPC) said in its decision.
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The notified transaction would not have anti-competitive effects as the parties to the deal do not have a dominant position or significant market power in any of the respective vertically connected markets, the CPC noted.
Furthermore, the planned transaction would not result in competitive advantages for Enel Green Power Bulgaria and its units in terms of services related to electricity balancing, as access to these services is not restricted and takes place in a competitive environment, the regulator added.
According to MET Renewables Holding, the portfolio of Enel Green Power Bulgaria is a suitable match for the renewable portfolio of MET Group and its strategy for products development and diversification, whereas the liberalisation of the electricity market in Bulgaria creates a favorable environment for producers of energy from renewable sources, CPC also said.
Interested parties can challenge the regulator's decision within 14 days of its publication.
Enel Green Power Bulgaria operates two wind parks, of 21 MW each, which are located in Shabla and Kamen Bryag, on the Black Sea coast.
MET Group, active in the natural gas, power and oil markets, is present in 14 countries through subsidiaries, 26 national gas markets and 22 international trading hubs.
Enel Green Power is the renewable energy arm of Italy's Enel Group.