Econcern finds buyers for some assets

London, 25 June: Stricken Dutch sustainable energy company Econcern has managed to find buyers for parts of its business – but the jobs of some 600 of its 1,100 staff remain at risk.

Last week, Dutch utility Eneco announced it is to acquire parts of Econcern’s project development business, Evelop, and of its consultancy Ecofys. On Monday, it confirmed that it would be buying the Dutch operations of Ecostream – a solar energy installation company – and is in discussions to take over Ecostream operations elsewhere.

So far, just under 400 Econcern staff will be joining Eneco – with that figure to rise slightly if further Ecostream operations are absorbed.

Last Thursday, carbon trading firm Orbeo said it is to buy OneCarbon, Econcern’s carbon greenhouse gas emissions reduction project development business. The company – a joint-venture between French chemicals firm Rhodia and bank Société Générale – will employ all 85 of OneCarbon’s staff.

No financial details were disclosed for any of the acquisitions.

Eneco also declined to disclose any details of the size of Evelop’s portfolio, but stated: “Evelop’s operational wind projects and project pipeline strongly contribute to the further expansion of Eneco’s sustainable energy production capacity.” Eneco currently operates around 1,200MW of gas-fired capacity, and 310MW of wind.

However, it confirmed that it would be acquiring Ecofys’ operations in the Netherlands, Germany and the UK.