Vattenfall is selling its combined heat and power plant Fyn Power Station in Denmark to Fjernvarme Fyn in line with group strategy to divest non-core assets and to decrease carbon dioxide exposure. Denmark remains a core Vattenfall market for renewable energy production.
Danish district heating company Fjernvarme Fyn will purchase Fyn Power Station including a waste incineration plant for an enterprise value of 1.1 billion Danish kronor, about $180 million. The sales price consists of $98.5 million in cash consideration and takeover of decommissioning obligations and environmental liabilities. The transaction is expected to be completed by January 1, 2015.
Vattenfall is the largest owner and producer of onshore wind power in Denmark and we continuously work on our strategic goal to transform the production portfolio away from CO2-emitting production into renewable production.
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.
After the divestment of Fyn Power Station and Amager Power Station in 2013, Nordjylland Power Station is Vattenfalls only remaining conventional power plant asset in Denmark.
Denmark remains a core market for wind production for Vattenfall, having currently 263 wind turbines in 37 wind farms. In addition Vattenfall has research & development a trading unit and a transit harbor in Denmark.