BP Expands European Presence with Acquisition of GETEC ENERGIE

By Editor


BP has reached an agreement to acquire GETEC ENERGIE GmbH, an energy supplier catering to commercial and industrial (C&I) clients in Germany.

The acquisition, when finalized, is expected to significantly broaden BP’s reach in the C&I supply sector, allowing the company to provide integrated energy solutions to both existing and new clientele across Germany and Europe, BP said in a news statement.

GETEC ENERGIE, boasting over two decades of experience and strong customer relationships, aligns seamlessly with BP’s strategy to transform into an integrated energy company focused on delivering comprehensive energy solutions.

This acquisition is poised to enhance BP’s capabilities and strengthen its engagement with customers in established (power and gas) as well as emerging (renewable power, biogas, and hydrogen) energy markets.

Carol Howle, BP’s Executive Vice President for Trading & Shipping, emphasized the importance of connecting and integrating energy solutions within BP’s strategy. She stated, “The addition of GETEC ENERGIE will expand and enhance our ability to do just that in Germany and ultimately in Europe.”

This development follows BP’s expansion of its C&I power and gas business in the United States through the acquisition of EDF Energy Services in 2022.

GETEC ENERGIE, headquartered in Hanover, Germany, currently operates privately and is a major player in the German energy landscape, with additional operations in The Netherlands, Austria, Belgium, and Poland. The company serves over 100,000 power and gas meters across Germany, supplying more than 40 TWh of power and gas annually.

GETEC ENERGIE’s employees will join BP, and the company’s headquarters in Hanover will serve as a new regional trading office for BP’s European trading business. Financial details of the transaction have not been disclosed, and the acquisition is expected to be finalized later this year.

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