Vattenfall gets rid of last fossil fuel asset in Denmark

As part of its plan to focus on renewable energy generation, Swedish state-owned utility Vattenfall AB is disposing of its last fossil fuel asset in Denmark, namely the Nordjylland coal-fired power plant.

District heating company Aalborg Forsyning will take over the combined heat and power (CHP) station as of December 31, 2015 in a deal with an enterprise value of DKK 823 million (USD 123.4m/EUR 110.3m), Vattenfall said in a statement today. The transaction is pending clearance from the relevant authorities.

“With the divestment in Denmark, Vattenfall has completed an important step in its transition from fossil fuels into renewable energies”, said Ingrid Bonde, Vattenfall’s finance head and deputy CEO.

The company noted that Denmark remains a core market for renewable energy. With 262 turbines across 37 wind farms, Vattenfall is the largest owner and producer of onshore wind power there.

(DKK 1.0 = USD 0.150/EUR 0.134)

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