Bloomberg News

Lampiris of Belgium Wins Investment as Gimv Bets on Green Power

June 14, 2013

Lampiris SA, a Belgian green power supplier, won 40 million euros ($53 million) of investment from Gimv NV (GIMB) and Societe Regionale d’Investissement de Wallonie SA as the nation’s investors bet on the expansion of clean energy.

Lampiris, based in Liege, will use the investment to fund its growth as it seeks to become Belgium’s leading independent supplier of gas and green electricity, Gimv, the Antwerp-based investor, said today in a statement. With about 9 percent of the gas and 6.5 percent of the electricity market, Lampiris is currently Belgium’s third-largest energy supplier, it said.

Gimv and the Walloon region investment company SRIW are seeking to benefit from the country’s goal of boosting energy from renewable sources to 13 percent of the total by 2020, from about 4.2 percent in 2012, according to European Commission data. Belgium gets most of its energy from oil, gas and nuclear power, according to the European Union’s executive arm.

“By boosting the company’s equity, we provide it with the opportunity to make the most of the many opportunities available in a market that is changing rapidly,” Olivier Vanderijst, chief executive officer of SRIW, said in the statement. Lampiris, set up in 2003, supplies more than 770,000 accounts with gas or green power.

To contact the reporter on this story: Sally Bakewell in London at sbakewell1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net


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