Vattenfall sells Danish plant in $180 million deal

Danish district heating company Fjernvarme Fyn is to acquire Fyn combined heat and power plant from Sweden’s Vattenfall. The deal also includes a waste incineration plant.

The agreement signed for an enterprise value of $180.7m is part of Vattenfall‘s strategy to sell non-core assets and to decrease CO2 exposure.
The sales price includes $98.6m in cash consideration as well as takeover of decommissioning obligations and environmental liabilities.

The transaction is subject to approval of the city council of Odense and the city council of Nordfyns Kommune as well as of the Danish Energy Agency and the Danish Competition and Consumer Authority.

Vattenfall chief financial officer and deputy chief executive officer Ingrid Bonde said: “We continuously work on our strategic goal to transform the production portfolio away from CO2-emitting production into renewable production.”

“The divestment of Fyn power station is another important step to continue to shift from fossil fuels into green energies.”

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