LONDON: Riverstone Energy Limited (REL) announced the proposed sale of 100% of its interest in Onyx Power to ResInvest Group, a privately owned trading and investment company, supplying key commodities for global markets.
Onyx Power is a European-based independent power producer that owns and operates approximately 2,350 MW of gross installed capacity of coal-, gas-, and biomass-fired power plants in Germany and the Netherlands.
Net proceeds to the Company are expected to be approximately $49 million, payable in cash at completion.
The transaction is subject to customary closing conditions and completion is anticipated to take place in Q1 of 2026.
Shortly following completion, the Company expects to announce a further compulsory redemption of ordinary shares to return to shareholders substantially the whole of the net sale proceeds received. Further details will be announced by the Company in due course.
REL is a closed-ended investment company which invests in the energy industry. REL’s ordinary shares are listed on the London Stock Exchange, trading under the symbol RSE. REL currently has 4 active investments spanning decarbonisation, renewable energy and power in the Continental U.S. and Europe.