Macquarie Asset Management has agreed to sell Macquarie European Infrastructure Fund 4’s stake in Energie Steiermark, one of the largest energy distribution and service companies in Austria, to the Provincial Government of Styria for €525 million ($555 million).
Headquartered in the province of Styria, Energie Steiermark has subsidiaries in Slovenia, Czech Republic, France and Germany, and operates a 31,300-kilometer (19,448-mile) electricity grid network and a 4,200-kilometer (2,609-mile) natural gas supply network. The business also provides district heating, e-mobility services and electricity generation from renewable-energy sources, including wind, hydropower, solar and biomass plants.
Macquarie invested in the business in 2015. The company aims to significantly expand the role for clean energy within the grid through additional investment in smart grid infrastructure, alongside the deployment of new wind, solar and hydropower capacity. In 2022, Energie Steier