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ACEAELECTRABEL AND META CONCLUDE A STRATEGIC AGREEMENT.

AceaElectrabel (a joint venture between Electrabel and Acea) and the multi-utility company Meta have signed a Memorandum of Understanding for the creation of the joint venture Metaenergy. The new jointly controlled venture, in which AceaElectrabel will own a 40% stake, will supply electricity to Meta's 133,000 customers (790 GWh/year) and gas to another 139,000 (330 million m3/year). Metaenergy also plans to expand its electricity and gas activities in the Emilia-Romagna region in northern Italy. The creation of Metaenergy results from a tender launched by Meta that also concerns other activities, i.e. water and the environment, for which specific agreements will soon be finalised with Acea Group and with Ondeo and Sita, members of Suez. Meta is a multi-utility group operating in environmental services and network management, whose shareholders include 29 municipalities, a municipal consortium, a mountain community in the province of Modena and two public companies.

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Publication:Europe Energy
Date:Mar 25, 2003
Words:151
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