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Dutch Eneco buys Econcern's German solar power ops

Published 07/15/2009, 10:50 AM
Updated 07/15/2009, 11:00 AM
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AMSTERDAM, July 15 (Reuters) - Dutch utility Eneco will buy German solar power company Ecostream, which was part of bankrupt Dutch sustainable energy company Econcern, Eneco said on Wednesday.

Eneco, which bought Econcern's Dutch solar power operations last month and some other operations, did not disclose financial details.

Econcern, owned by Dutch Rabobank, British Aviva unit Delta Lloyd, privately-held Dutch investment firm SHV and employees, became insolvent in May after failing to secure refinancing.

Eneco, the third-largest Dutch utility after Essent and Nuon, said in a statement the takeover was part of a transition to becoming a sustainable energy company.

Swedish energy group Vattenfall bought a stake in Nuon earlier this month, while Germany's RWE is buying parts of Essent but Eneco said in May it did not see reason anymore to take part in European consolidation. (Reporting by Gilbert Kreijger; editing by Elaine Hardcastle)

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