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Macquarie Asset Management sells its stake in Energie Steiermark

Macquarie Asset Management is selling its €525 million stake in Energie Steiermark, an energy distribution and services company in Austria, with subsidiaries in Slovenia, the Czech Republic, France and Germany.

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Australian asset manager Macquarie Asset Management has announced the sale of its Macquarie European Infrastructure Fund 4 stake in Energie Steiermark to the provincial government of Styria for €525 million ($556.4 million). Energie Steiermark is an energy distribution and services company in Austria, with subsidiaries in Slovenia, the Czech Republic, France and Germany. It manages a 31,300 km electricity network and a natural gas distribution network of approximately 4,200 km and provides district heating services, electric mobility services, and electricity production from wind, hydro, solar and biomass plants.

Investment in clean energy

In December 2022, in partnership with Energie Steiermark, Natel Energy commissioned its first European hydropower project, on a tributary of the Mur River in Graz, Austria. The Sauerbrunn hydroelectric project is expected to produce up to 100 MWh per year, supplying local households with green electricity. Energie Steiermark is majority owned by the government of Styria. Macquarie Asset Management had invested in the company in 2015. “We are delighted to have supported Energie Steiermark as it continues to adapt to the evolving needs of the communities it serves,” said Hilko Schomerus, managing director at Macquarie Asset Management. “Energie Steiermark’s continued commitment to providing sustainable energy solutions to consumers and businesses will play an important role in accelerating the energy transition of Austria and its neighbors.”

Clean energy development objective

Energie Steiermark aims to significantly expand the role of clean energy in the grid through additional investments in smart grid infrastructure, as well as the deployment of new wind, solar and hydro capacity, according to a statement. Last year, Energie Steiermark started building a stand-alone production facility for green hydrogen in Austria. The transaction is expected to close in the first quarter of 2023 and includes a 9% per annum interest fee calculated from January 1, 2023 until the closing of the transaction.

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