Veolia Speeds up the Development of Its Energy Business in the Czech Republic and Will Operate the District Heating Network in Prague’s Right Bank
Through its subsidiary Veolia Ceska Republika, Veolia (Paris:VIE) has signed an agreement to take over Pražská Teplárenská (PT), a subsidiary of the Czech company Energetický a Průmyslový Holding a.s, which runs the district heating network in Prague’s Right Bank. The Veolia Group already operates the network in Prague’s Left Bank so this transaction will strengthen its position in energy services in the Czech Republic and will eventually represent annual revenue for the Group estimated at €230 million.
The network operated by PT is currently the largest heating network in the Czech Republic. Covering 550 kilometers and with more than 400 employees, it supplies heating to 230,000 homes, municipal installations and tertiary-sector premises on a daily basis.
Veolia’s takeover of PT marks a further stage in the development of heating networks in the Czech Republic. It will also consolidate the Group’s historical connection with the city of