Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229 -91111. Fax: +32 229 -64301. E -mail: COMP -MERG ER-REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION  
Brussels, 7.2.2022  
C(2022 ) 833 final  
PUBLIC VERSION  
Electricité de France  
22-30 avenue de Wagram  
75008 Paris  
France  
 
Nebras Power Investment Management 
B.V. 
Parnassusweg 823  
1082, LZ - Amsterdam  
The Netherlands  
 
Sojitz Corporation  
1-1, Uchisaiwaicho 2 -chome,  
Chiyoda -ku  
Tokyo 100 -8691  
Japan  
 
Kyuden International Corporation  
6F KMG Bld., 2 -23 
Yakuin 3 Chome  
Chuo -Ku, Fukuoka  
810-0022 Japan  
Subject : Case M. 10617 - EDF / SOJITZ CORPORATION / NEBRAS POWER / 
KYUDEN INTERNATIONAL CORPORA TION / JV   
Commission decision pursuant to Article 6(1)(b) of Council Regulation 
(EC) No 139/20041 and Article 57 of the Agreement on the European 
Economic Area2  
Dear Sir or Madam,  
1. On 14 January 2022 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which Electricité de 
                                                 
1 OJ L 24, 29.1.2004, p. 1 ( the ‘Merger Regulation ’). With effect from 1 December 2009,  the Treaty on 
the Functioning of the European Union ( ‘TFEU ’) has introduced certain changes, such as the 
replacement of ‘Community ’ by ‘Union ’ and ‘common market ’ by ‘internal market ’. The terminology 
of the TFEU will be used throughout this decision.  
2  OJ L 1, 3.1.1994, p.  3 (the ‘EEA Agreement ’). 

2 France  ("EDF", France ); Nebras Power Investment Management B.V . (the 
Netherlands), controlled by Nebras Power Q.P.S.C. ("Nebras", Qatar), a joint venture 
between Qatar Electricity and Water Company O.P.S.C (Qatar) and the Qatar 
Investment Authority (Qatar ); Sojitz Corporation ("Sojitz", Japan ); and Kyuden 
Internationa l Corporation (“Kyuden”, Japan) , controlled by Kyushu Electric Power 
Co. Inc ( “Kyushu”, Japan), acquire within the meaning of Article 3(1)(b) and 3(4) of 
the Merger Regulation joint control of the whole of the Joint Venture (Uzbekistan) , by 
way of purchase of shares in a newly created comp any constituting a joint venture .3 
2. The business activities of the undertakings concerned are:  
 for EDF:  mainly active in the electricity markets, and in particular in electricity 
production (nuclear, renewable and fossil) and wholesale, trading, transmissio n, 
distribution and supply as well as in the gas and energy services markets and in 
the construction, operation and maintenance of electric plants and power 
networks , 
 for Nebras: active in the clean energy sector , 
 for Sojitz: active in chemicals, foodstuff  resources, LNG terminal, machineries, 
automotive/aircraft parts and energy, namely an onshore wind farm portfolio and 
the retail supply of electricity and gas,  
 for Kyuden: active in utilising Kyushu's technology and expertise in the energy 
sector in marke ts outside Japan,  
 for the Joint Venture: will be active in the development, ownership, financing, 
procurement, construction, testing, commissioning, operation, and maintenance of 
a greenfield power generation plant of 1,200 -1,600 MW of power generation 
capacity, together with associated infrastructure and facilities, which will be 
located at Syrdarya, Republic of Uzbekistan as well as supplying the Government 
of Uzbekistan with electricity from the plant.  
3. After examination of the notification, the European Commission has concluded that 
the notified operation falls within the scope of the Merger  Regulation  and of 
paragraph 5 (a) of the Commission Notice on a simplified procedure for treatment of 
certain concentrations under Council Regulation (EC) No 139/2004 .4 
4. For the reasons set out in the Notice on a simplified procedure, the European 
Commission has decided not to oppose the notified operation and to declare it 
compatible with the internal market and with the EEA Agreement. This decision is 
adopted in applic ation of Article 6(1)(b) of the Merger  Regulation  and Article 57 of 
the EEA Agreement . 
For the Commission  
 
 
(Signed)  
Olivier GUERSENT  
Director -General  
                                                 
3  Publication in the Official Journal of the European Union No C 35, 24.1.2022 , p. 19. 
4  OJ C 366, 14.12.2013, p. 5 .