China Quality Daily: SEP Expands to European Energy Market

Shanghai Electric Power Co., Ltd. (SEP) has partnered with Accenture in its first step of expansion to the European energy market through a successful acquisition in Malta.

SEP acquired 33% shares of Enemalta PLC, Malta’s only state-owned energy company, together with the acquisition of 90% stake of Delimara 3, a major power plant in the country.

“Accenture’s capabilities of providing full spectrum of overseas M&A services have added new value to our ‘go-global’ strategy.” SEP chairman Wang Yundan said, “Our successful experience of the acquisition in Malta will help us further expand in the European market.”

“Accenture has been actively supporting Malta’s energy transformation ambition by leveraging its extensive global network and deep industrial expertise to meet our national demand for energy services, renewables, foreign investment and innovation.” Dr. Konrad Mizzi, Minister for Energy and Health of Malta said, “In our close collaboration with SEP and Accenture, we are better positioned to shape a smarter and more sustainable energy future in Malta.”

As a Chinese public company and a subsidiary of State Power Investment Corporation, SEP announced earlier its strategic investment in Malta for the acquisition projects and converting Delimara 3 to a gas-powered plant. SEP will also form a joint venture with Enemalta to develop renewable energy business eyeing markets abroad.

“As a leading global consulting company, we are delighted to become a bridge in the win-win energy cooperation between SEP and Malta.” Michael Ding, Accenture Senior Managing Director and Resources Lead in Greater China said, “Our professional services around SEP’s successful acquisition span from due diligence, finance consulting to post-merger integration and branding strategy. We will continue to make further contribution to Chinese energy companies’ journey of globalization that is expected to bring sustainable growth for our clients in China and the world.”

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