May 24, 2022

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Swedish utility Vattenfall considers selling Berlin heat business


Vattenfall’s CEO Anna Borg seems to be on after the presentation of the profits report at the headquarters in Stockholm, Sweden April 29, 2021. Janerik Henriksson/TT Information Company/by using REUTERS

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STOCKHOLM, May perhaps 4 (Reuters) – Sweden’s Vattenfall (VATN.UL) has initiated a strategic review more than a possible divestment of its Berlin heat business, as it appears to be to stage out remaining fossil fuels in its functions, the utility stated on Wednesday.

The condition-owned company said there were being good arguments equally to hold and sell the enterprise, which provides incredibly hot h2o and heating to about 1.3 million residential models.

“In each scenarios, Germany stays a key current market for Vattenfall,” Chief Govt Anna Borg said in a statement, introducing the corporation would “carry on to perform an critical function in the German power changeover”.

Vattenfall mentioned that the head of its heat business enterprise region, Ulrika Jardfelt, would leave the enterprise in relationship with the overview, to be quickly replaced by organization region Consumers & Solutions chief Martijn Hagens.

Vattenfall’s warmth company in Berlin owns and operates 10 warmth and CHP (mixed warmth and electrical power) vegetation, 80 tiny-scale CHP facilities, and many other property. It employs roughly 1,700 people today.

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Reporting by Helena Soderpalm modifying by Niklas Pollard

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