Sustainable energy provider Greenchoice has presented a plan to merge with its smaller Dutch peer Qurrent to Dutch consumer authority ACM which regulates the energy sector, the Financieele Dagblad reported on Thursday.

Financial details were not provided.

Together, the two companies have around 500,000 subscribers. The transaction is expected to be completed on 1 October.

The two companies operate in virtually the same manner by providing green energy and making homes more energy efficient, said Greenchoice spokesman Martin de Boer. Grenchoice said the merger would speed up the transition to green energy on the local level.

Conventional energy supplier Eneco acquired a 30% stake in Greenchoice in 2007. Qurrent is 100%-owned by Stichting Doen,  a green foundation which receives the bulk of the Postcode lottery funds. Qurrent is known chiefly as a shirt sponsor for Rotterdam football team Feyenoord.

Consumers organisation Consumentenbond named Qurrent the ‘grrenest energy supplier’ for the fourth year running in 2017. The company, which has yet to turn a profit, owns no wind turbines – it is a re-seller of locally produced energy.