BP to acquire GETEC ENERGIE GmbH

On completion, the acquisition will materially expand BP’s European power and gas C&I supply presence, enabling it to deliver integrated energy solutions directly to existing and new customers in Germany and elsewhere in Europe.

BP said that the acquisition of GETEC ENERGIE GmbH is aligned with and will accelerate the delivery of its strategy to become an integrated energy company focused on bringing energy solutions to customers. It will boost BP’s capabilities and increase its interface with customers in both established (power and gas) and developing (renewable power, biogas and hydrogen) energy markets.

This agreement follows from BP’s successful expansion of its C&I power and gas business in the US through the 2022 acquisition of EDF Energy Services.

Carol Howle, BP Executive Vice President, Trading & Shipping, said: "As we continue to deliver our strategy, it’s essential that we can connect and integrate the energy solutions we offer customers across BP. The addition of GETEC ENERGIE GmbH will expand and enhance our ability to do just that in Germany and ultimately in Europe.

"It will help us bring new opportunities across energy value chains to C&I customers, providing them with secure, affordable and increasingly lower carbon energy solutions. We look forward to bringing GETEC ENERGIE GmbH’s advanced technologies, processes and people into BP."

Franziska Artz, Chairwoman of the Advisory Board of GETEC ENERGIE Holding GmbH, added: "With our long-standing CEO and co-shareholder Bernward Peters, we have developed GETEC ENERGIE GmbH into a material and leading energy provider for commerce and industry in Germany. We are delighted to have now found the right opportunity with BP, with whom GETEC ENERGIE GmbH can continue and expand its successful course in the context of the energy transition both in Germany and beyond."

Read the article online at: https://www.hydrocarbonengineering.com/clean-fuels/17012024/bp-to-acquire-getec-energie-gmbh/