29 Jul Greenchoice announced the acquisition of Qurrent
GreenChoice has entered into an agreement to purchase 100% of the shares of the DOEN Foundation, the initiator behind Qurrent. By joining forces, Greenchoice wants to strengthen the Dutch sustainable energy market and accelerate the energy transition.
Axeco Corporate Finance is pleased to have advised Greenchoice
Sustainable energy supplier Greenchoice wants to take over the green energy company Qurrent. This was submitted today to the Netherlands Authority for Consumers and Markets (ACM), the regulator of the Dutch energy market. By joining forces with Qurrent, Greenchoice aims to strengthen the sustainable energy market in the Netherlands and further accelerate the energy transition.
If the joining of forces continues, Greenchoice will take over 100% of the shares of the DOEN Foundation, which stands behind Qurrent as the initiator. Evert den Boer, General Manager of Greenchoice: “The acquisition fits in with our growth ambition and contributes directly to our mission to accelerate the Dutch local energy transition. The increase in scale and efficiency that we achieve provides more strength and reach. Like this, we can continue to be successful in the long-term competitive energy market and supply even more Dutch people with green electricity and help save energy. Together we are making The Netherlands ever greener.”
Anneke Sipkens, general director of DOEN: “Stichting DOEN is proud of the innovative impulse Qurrent has given to the energy transition, by combining the supply of green energy, energy saving and self-generation. The pioneering phase has been completed and we are pleased that by joining forces with Greenchoice, we can reach more Dutch people faster and more.”
Accelerating the decentralized energy transition.
The acquisition is expected to be finalised on October 1st, leading to a total number of customers of over 500,000. The company will support more than a hundred local energy projects and cooperatives. “Just like Greenchoice, Qurrent has of course been an active partner of local sustainable energy projects for years. Together we have the knowledge and experience to accelerate even more with local generation and savings projects,” says Den Boer.
Qurrent was found in 2006 to help consumers both to utilize less energy and to generate energy themselves. Since 2014, Qurrent itself supplies green energy to its consumers.
Greenchoice is an energy supplier with 581,000 private and 47,000 business customers. They produce and supply sustainable electricity from Dutch soil and also supply gas. They compensate CO2 emissions from the gas consumption of their customers by planting trees and protecting forests. They also develop and manage services and products themselves or together with customers and energy cooperatives to save, generate and store energy and to coordinate energy supply and demand as well as possible.