Brussels, 17 August 2023
The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture by Acciona Concesiones S.L., Cobra Instalaciones y Servicios S.A. (‘Cobra’), both of Spain, and Endeavour Energy (‘Endeavour’) of Australia.
The joint venture will design, construct, finance, operate, maintain, manage and hand back an electricity transmission network infrastructure for the Central-West Orana Renewable Energy Zone in New South Wales (Australia). Acciona Concesiones develops, constructs, operates, and maintains infrastructure public private partnership projects under concession arrangements. Cobra provides integrated solutions in the fields of energy, industrial engineering, telecommunications, renewable energy, and transmission development. Endeavour is active in the electricity distribution sector in Australia.
The Commission concluded that the proposed transaction would raise no competition concerns, given that the joint venture has no actual and foreseen activities in the European Economic Area. The transaction was examined under the simplified merger review procedure.
More information is available on the Commission’s competition website, in the public case register under the case number M.11210.
Source – EU Commission