Electricity transmission lines carry power from CEZ's Ledvice coal-fired power plant near the village of Ledvice, Czech Republic, February 9, 2016.
REUTERS/David W Cerny/File PhotoPRAGUE, Aug 7 (Reuters) - Czech electricity producer CEZ (CEZP.PR) plans to bid for the country's gas distribution network GasNet if it goes on sale, CEZ's deputy chairman said, as it would complement CEZ's expansion into gas, a transitional fuel in the shift from coal to clean energy.
Pavel Cyrani told Reuters that CEZ would bid when a formal sale process is launched for GasNet, adding the unit would also be a good fit for CEZ's electricity distribution business.
GasNet, owned through Czech Gas Network Investments by a consortium led by Macquarie Asset Management and including British Columbia Investment Management Corporation and Allianz Capital, covers 80% of the country's gas distribution through a network of 65,000 km of gas pipelines.
"Having gas distribution in the hands of a strong local player would clearly help us in this effort," a spokesman said.
Persons:
David W Cerny, Pavel Cyrani, Cyrani, Macquarie, GasNet, Jan Lopatka, Jason Hovet, Susan Fenton, Louise Heavens
Organizations:
REUTERS, Reuters, Czech Gas Network Investments, Macquarie Asset Management, Columbia Investment Management Corporation, Allianz Capital, Thomson
Locations:
Ledvice, Czech Republic, Czech, Prague, Ukraine