Public say in the Borssele nuclear power plant safeguarded
DELTA, a utility company with public shareholders, will become the majority shareholder of the nuclear power plant in Borssele. This will safeguard that the safety of the nuclear power plant will remain in public hands.
This has been the result of a large number of discussions between the former Essent shareholders, DELTA and the German energy company RWE, which is written down in a letter of intent.
DELTA and the former Essent shareholders will now be burying the legal hatchet concerning the shares. This will prevent the impasse related to the distribution of shares within EPZ from continuing for many years to come.
CEO Peter Boerma: "It is essential for us that public interest be safeguarded with regard to the first nuclear power plant and the second one to be built. In addition, we will be safeguarding a good relationship with the new partner in EPZ".
DELTA will be given an additional 20% of the shares and 30% will go to the German RWE. As the majority shareholder (70%), DELTA can now safeguard public interest appropriately.
Initially, Essent shareholders wished to sell their complete interest in EPZ (50% of the shares) to the German RWE. According to Delta, this is contrary to the EPZ articles of association, which state that the shares of the power plant must be in the hands of public parties. In interlocutory proceedings, even the Supreme Court decided that DELTA was right. This could have led to an action on the merits that could have gone on for many years.
The next step is that the DELTA shareholders will be making a decision towards the end of June. Parties will be signing the final agreement this year.
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