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3i takes a reading on Joulz
Posted on Wednesday, 13 March 2019 14:44
3i Infrastructure is attempting to corner opportunities arising from the Dutch government’s decision to decarbonise the economy by fully acquiring Joulz Diensten from Stedin Holding for EUR 220.00 million.
The Netherlands is working towards the electrification of heat and transport, improving energy efficiency and expanding renewable generation activities, all of which should drive demand for related equipment.
Joulz consists of two business units, infrastructure services and metering, each of which generate about half of the overall group’s total revenue.
The first unit designs, installs, leases and maintains medium voltage equipment, such as transformers, switchgear and cables, under long-term contracts for use in large commercial, office and multi-storey residential buildings and industrial sites with high electricity load.
Joulz claims to be one of the market leaders in the metering sector, and also provides data analytic services to help customers understand their energy usage and improve energy efficiency.
The relevant division supplies, maintains and manages the equipment used to collect electricity, gas and heating consumption data.
It leases, operates and reads about 50,000 meters for non-household customers under medium-term contracts.
Stedin has already offloaded the commercial activities of the Joulz energy division to Visser & Smit Hanab, which is part of Koninklijke VolkerWessels, as the unit was no longer a strategic fit.
The group’s focus is now on improved grid management, facilitating the energy transition and sustainable business operations and its latest divestment is in line with this changed business programme.
However, it means 3i can take advantage of the expected increase in demand for medium voltage equipment, sub-meters and data analytics, all of which will be driven by the country’s decarbonisation policy.
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