ContourGlobal plc is a British power generation business. It was listed on the

London Stock Exchange London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St P ...

until it was acquired by

Kohlberg Kravis Roberts KKR & Co. Inc., also known as Kohlberg Kravis Roberts & Co., is an American global investment company that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strate ...

in December 2022.

History

The company was established by Joseph Brandt with financial support from Reservoir Capital Group in 2005. In June 2015 it purchased the Vorotan Cascade in

Armenia Armenia (), , group=pron officially the Republic of Armenia,, is a landlocked country in the Armenian Highlands of Western Asia.The UNbr>classification of world regions places Armenia in Western Asia; the CIA World Factbook , , and ' ...

for US$180 million. ContourGlobal was the subject of an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investme ...

which raised net proceeds of £281 million in November 2017. It then agreed to acquire Acciona's solar power plants for US$1.19 billion in February 2018. In May 2022, the board accepted an offer from

which valued the company at £1.75 billion. It was announced on 16 December 2022 that the court had approved the takeover, allowing the transaction to be completed.

Operations

The company generates circa 59% of its power from traditional sources of fuel such as natural gas and coal and circa 41% from renewable sources such as wind, solar and water. It owns and operates 69 power generation plants across 19 countries.

References

External links

Official site
{{Authority control Companies established in 2005 Companies listed on the London Stock Exchange