Luminus becomes Belgium’s 2nd energy player with Essent take-over
Energy provider Luminus is taking over its competitor Essent Belgium, both companies announced last week. Thanks to the transaction, Luminus becomes the second player (after Engie Electrabel, with a 40% market share) on the Belgian energy market with a market share that increases up to one-quarter (from 18 to 24%).
Essent, which used to sit in fourth place, is specialized in the installation and maintenance of photovoltaic panels. Both companies will keep working independently until the completion of the transaction, probably in the second quarter of 2021.
Contracts and conditions for clients temporarily remain the same. In time, Essent Belgium clients will enjoy more attractive gas and electricity offers and a series of new services to help reduce their energy consumption and ecological footprint. The take-over will enable Luminus to improve its efficiency and to help clients reduce their CO2 emissions.
“This take-over will strengthen our position to support our clients during their energy transition,” says Luminus CEO Grégoire Dallemagne in the companies’ joint press release. “It will allow us to accelerate our strategic development and build a CO2-neutral energy future, in which the planet’s protection, well-being, and economic growth will be reconciled thanks to electricity and innovative services and solutions.”
“Essent Belgium has proven to be a strong and flexible team that can respond to changing times in a challenging market,” adds Essent Belgium CEO Pierre Pignolet.
“The take-over by Luminus offers Essent Belgium employees the opportunity to develop the future energy landscape further. Luminus and Essent Belgium are both players with the will and the ambition to keep evolving and innovating.”
Luminus sells gas, electricity, and energy services to 1,8 million residential and professional customers. The company is the number one in onshore wind energy and hydropower plants in Belgium. Some wind turbine projects even allow municipalities to participate. Last year, Luminus represented almost 900 full-time employees (more than 2 000, subsidiaries included) in Belgium.
Luminus can rely on the local anchoring and expertise of the EDF Group, one of the world leaders in the energy sector. For the ninth year in a row, the company is part of the 73 Top Employer Companies in Belgium.
Essent provides more than half a million clients and companies in Belgium with gas, electricity, and innovative energy services. Essent Belgium, with headquarters in Kontich (Antwerp), counts about 150 employees.
The company is part of the E.ON-Group, one of the largest European energy companies with about 50 million clients in Belgium, the Netherlands, Germany, the UK, and Sweden.