In 2005, a joint-venture comprising thee companies - Siemen Project Ventures, Tessenderlo Group and Advanced Power - laid the foundation for a privately funded power plant which matched the favorable political climate and expected electricity demand in Belgium. The project was carefully planned and outlined, and this meant the consortium subsequently received the first ever private power generation license in Belgium. Since June 15, 2011, T-Power has started commercial operations under a tolling agreement with RWE group, which is a major power company headquartered in Germany. Both Siemens Project Ventures and Tessenderlo Group have been supporting T-Power through the development and construction phases of this highly important project for energy generation in Belgium.
In 2018, Tessenderlo Group acquired the remaining 80% of the shares of T-Power nv. The selling shareholders were Siemens Project Ventures GmbH (20%), TG Europower bv (Tokyo Gas, 26.66%) and Power Kestrel Limited (Itochu Corporation, 33.33%). T-Power is now 100% owned by Tessenderlo Group.
Commenting on the acquisition, Luc Tack (CEO Tessenderlo Group) said: “The acquisition of this modern power plant will enable Tessenderlo Group to effectively respond to developments on the Belgian energy market. The gas-fired power plant is highly flexible and such flexibility is becoming increasingly important due to the rising share of fluctuating energy sources in the power grid, such as wind power and solar energy. In addition, this acquisition will reinforce the sustainability profile of our diversified industrial group.”