Encevo

The story of Encevo isn't one of a typical startup, but of strategic consolidation in the Luxembourg energy market. Its roots trace back to legacy utility companies, with the most direct predecessor, Enovos International, emerging in 2009. This entity was born from the restructuring of Soteg, which had acquired the shares of Cegedel, Luxembourg's electricity company since 1928, and Saar Ferngas. This new structure established two key pillars: Enovos Luxembourg for energy supply and Creos Luxembourg as the grid operator. The goal was to create a regional energy leader. The structure wasn't founded by individuals in a garage but was the result of strategic mergers of established state- and privately-owned energy players. A significant event in its journey was the 2016 rebranding of the holding company, Enovos International, to Encevo S.A. This was done to create a clearer distinction between the parent company and its operational subsidiaries, Enovos and Creos. In the same year, a major ownership change occurred when private equity firm Ardian sold its 24.92% stake to China Southern Power Grid International, a major global grid operator. Today, Encevo's primary shareholders are public entities like the State of Luxembourg and the City of Luxembourg, alongside China Southern Power Grid.