Stedin Group issues € 200m in preference shares

Transaction summary

ROTTERDAM, June 25, 2021 – Stedin Group’s shareholders are to strengthen the grid operator’s equity by € 200 million in the form of cumulative preference shares. The shareholders approved the proposed capital contribution of € 200 million during the shareholders’ meeting on 25 June. A large majority of the shareholders have subscribed for the preference shares.

The investment will provide municipalities with a fixed dividend of 3% per year. The issued capital will be contributed to the company itself, which is growing strongly and rising in value due to the increasing investments as a result of the energy transition. By investing, the shareholders will facilitate the energy transition in Stedin’s service area.

Official press release: click here

Emendo Capital acted as lead financial adviser to Stedin in collaboration with ING and NatWest Markets (joint Structuring & Rating Advisors), Stek Advocaten and Clifford Chance (Legal).

Investing in the energy transition

Investment in the energy network will ensure that locally generated solar and wind energy can be transported, districts can be heated with a sustainable alternative to natural gas and a charging infrastructure can be installed for millions of electric cars and buses. This is required to meet climate targets and bring about the ambitions in the Regional Energy Strategies. As well as ensuring a future-proof energy infrastructure, the capital contribution will create local employment and regional economic growth. The investment will be on top of the regular ongoing investment needed to keep the electricity and gas grids operating. Total investment by Stedin in relation to the energy transition is estimated to run to €7 billion or more by 2030.

About Stedin Groep

Working together towards a world full of new energy. This is the goal that the approximately 4,500 employees of Stedin Group are striving to achieve every day. We believe that it is our responsibility to ensure that all our customers have access to the sustainable energy they need to live, work and conduct business. Stedin Group is increasing the sustainability and maintaining the robustness and affordability of the energy system. This is achieved through the combined efforts of grid operators Stedin (provinces of Zuid-Holland and Utrecht) and Enduris (province of Zeeland) and the experts of infrastructure company DNWG Infra.