Vattenfall sells Denmark power plant

The enterprise value is $123 million

Content Dam Pennenergy Online Articles 2015 June Vattenfall Nordjylland Chp Plant

Vattenfall is divesting its Nordjylland CHP-plant, thereby completing the sale of its fossil assets in Denmark in line with group strategy to focus on a more sustainable energy production.

As of December, 31 2015 district heating company Aalborg Forsyning will take over Nordjylland Power station. The enterprise value is $123 million. The combined sales sum consists of $108 million in cash consideration, takeover of decommissioning obligations and environmental liabilities.

“With the divestment in Denmark, Vattenfall has completed an important step in its transition from fossil fuels into renewable energies”, says Ingrid Bonde, Vattenfall’s Chief Financial Officer and Deputy Chief Executive Officer.

The coal-fired Nordjylland Power Station unit 3 has an installed capacity of 410 MW of electricity and 490MJ/s of district heating. Prior to the sale of Nordjylland Power Station Vattenfall has divested two other coal fired plants; Amager Power Station in 2013 and Fyn Power Station in 2014.

Denmark remains a core Vattenfall market for renewable energy. Vattenfall is the largest owner and producer of onshore wind power in Denmark, with 262 wind turbines in 37 wind farms. Vattenfall also has research & development operations as well as a trading unit and a transit harbor in Denmark.

The transaction is subject to the approval from relevant authorities.

Vattenfall discloses this information pursuant to the Swedish Securities Market Act.

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