bp has confirmed its acquisition of GETEC ENERGIE GmbH, an independent energy supplier to commercial and industrial (C&I) clients in Germany. The completion of this acquisition will significantly broaden bp’s footprint in the European power and gas C&I supply sector, allowing for the direct provision of integrated energy solutions to both existing and new customers in Germany and across Europe.
GETEC ENERGIE GmbH, boasting over two decades of experience and strong customer relationships, aligns seamlessly with bp’s strategy to evolve into an integrated energy company. This move will enhance bp’s capabilities and strengthen its connections with customers in established (power and gas) and emerging (renewable power, biogas, and hydrogen) energy markets.
Building on the success of bp’s C&I power and gas business expansion in the US through the acquisition of EDF Energy Services in 2022, this agreement underscores bp’s commitment to connecting and integrating energy solutions for customers.
Carol Howle, bp Executive Vice President of Trading & Shipping, emphasized the strategic importance of the acquisition, stating, “The addition of GETEC ENERGIE GmbH will expand and enhance our ability to bring new opportunities across energy value chains to C&I customers, providing them with secure, affordable, and increasingly lower carbon energy solutions.”
Franziska Artz, Chairwoman of the Advisory Board of GETEC ENERGIE Holding GmbH, expressed enthusiasm about the acquisition, noting, “We are delighted to have now found the right opportunity with bp, with whom GETEC ENERGIE GmbH can continue and expand its successful course in the context of the energy transition both in Germany and beyond.”
