Germany – bp has signed an agreement to acquire Getec Energie GmbH, a prominent independent energy supplier catering to commercial and industrial (C&I) customers in Germany.
Getec Energie GmbH, with over two decades of experience, expertise, and established customer relationships, perfectly aligns with bp’s overarching strategy to transform into an integrated energy company. This acquisition is set to amplify bp’s capabilities, providing a gateway to interface with customers in both traditional energy markets (power and gas) and burgeoning sectors like renewable power, biogas, and hydrogen.
Getec Energie GmbH, headquartered in Hanover, Germany, operates as a privately-owned entity. Its core operations span across Germany, with additional European presence in The Netherlands, Austria, Belgium, and Poland. As one of Germany’s major independent energy suppliers, it currently delivers over 40 TWh of power and gas annually to C&I customers, serving over 100,000 power and gas meters nationwide.
Integration with bp
Beyond the immediate expansion of bp’s C&I supply capabilities, the acquisition is expected to play a pivotal role in managing and supplying bp’s demand for lower carbon power in Germany and Europe. This aligns with Getec Energie GmbH’s existing power supply agreement with bp’s Aral forecourts in Germany.
While financial details remain undisclosed, the acquisition is projected to conclude later in the year, contingent on regulatory approvals. Upon completion, Getec Energie GmbH’s personnel will integrate into bp, with its headquarters in Hanover transforming into a new regional trading office for bp’s European trading business.