ContourGlobal plc is a British
power generation business. It was listed on the
London Stock Exchange
The London Stock Exchange (LSE) is a stock exchange based in London, England. the total market value of all companies trading on the LSE stood at US$3.42 trillion. Its current premises are situated in Paternoster Square close to St Paul's Cath ...
until it was acquired by
KKR in December 2022.
History
The company was established by Joseph Brandt with financial support from Reservoir Capital Group in 2005.
In June 2015 it purchased the
Vorotan Cascade in Armenia for US$180 million. ContourGlobal was the subject of an
initial public offering
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...
which raised net proceeds of £281 million in November 2017.
It then agreed to acquire
Acciona
Acciona, S.A. () is a Spanish multinational conglomerate dedicated to the development and management of infrastructure (construction, water, industrial and services) and renewable energy. The company, via subsidiary Acciona Energía, produces 21 ...
's solar power plants for US$1.19 billion in February 2018.
In May 2022, the board accepted an offer from
KKR which valued the company at £1.75 billion. It was announced on 16 December 2022 that the court had approved the takeover, allowing the transaction to be completed.
Operations
The company generates circa 59% of its power from
fossil fuel
A fossil fuel is a flammable carbon compound- or hydrocarbon-containing material formed naturally in the Earth's crust from the buried remains of prehistoric organisms (animals, plants or microplanktons), a process that occurs within geolog ...
sources such as natural gas and coal and circa 41% from
renewable sources such as wind, solar and water.
[ It owns and operates 69 power generation plants across 19 countries.][
]
References
External links
Official site
{{Authority control
Energy companies established in 2005
Companies formerly listed on the London Stock Exchange
Kohlberg Kravis Roberts companies