Netherlands-based power and gas company Essent has agreed to acquire Dutch clean energy company Vandebron.
Essent, a subsidiary of the Innogy renewables unit itself owned by German utility Eon, will pay an undisclosed sum provided the transaction is approved by the Netherlands Authority for Consumers & Markets.
Vandebron operates a marketplace for renewable energy which connects wind, solar and biomass power producers with consumers.
If you can’t beat them, buy them
“We want to make the switch to sustainable energy attractive for everyone,” said Vandebron CEO Matthijs Guichelaar. “This requires a scale that we cannot achieve on our own. Although we have always challenged the established order we now consciously choose to pursue our mission from within. We are happy with a new parent company that believes in our vision, in our business model and in everything that we have built with our team.”
The Amsterdam company, which has around 300 employees, said it will keep operating as an independent company and hopes to increase its solar and energy efficiency activity with the help of its new owner.
The energy provider, which operates across the Benelux energy market, was acquired by RWE in 2009.