German energy company MVV Energie is selling its Czech activities to a fund managed by Cube Infrastructure Managers for an undisclosed sum.
MVV said it has sold MVV Energie CZ, a company which provides services to customers in 15 cities in the Czech Republic, to Cube Infrastructure Fund III.
MVV Energie CZ is among the leading producers and distributors of heat in the Czech Republic. The group is also engaged in high-performance electricity generation, waste-to-energy production, energy consulting, water management and electronic communications services.
Ralf Klöpfer, an executive board member of MVV Energie, said: “MVV is proud of the development of MVV Energie CZ since the beginning of our engagement in the Czech market. We have made significant progress in reducing the carbon footprint of the assets and building a leading energy efficiency group.
“This is part of our strategic course which will make us climate neutral by 2040 and climate positive from then on. We firmly believe that we have found the right long-term owner in Cube to continue and accelerate the exciting path of MVV Energie CZ.”
Saket Trivedi, managing director of Cube Infrastructure Managers, said: “This investment reflects Cube’s commitment to delivering sustainable infrastructure assets to local communities and authorities.
”MVV Energie CZ is a perfect example of this, delivering heating and energy efficiency solutions to thousands of homes and businesses across the Czech Republic.”
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