Swedish utility Vattenfall considers selling Berlin heat business

Vattenfall’s CEO Anna Borg appears on right after the presentation of the gross sales report at the headquarters in Stockholm, Sweden April 29, 2021. Janerik Henriksson/TT News Agency/by way of REUTERS

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STOCKHOLM, May well 4 (Reuters) – Sweden’s Vattenfall (VATN.UL) has initiated a strategic evaluate over a attainable divestment of its Berlin warmth business enterprise, as it appears to section out remaining fossil fuels in its operations, the utility reported on Wednesday.

The state-owned organization claimed there were being great arguments both of those to maintain and provide the organization, which provides incredibly hot water and heating to about 1.3 million household units.

“In both situations, Germany stays a crucial sector for Vattenfall,” Chief Government Anna Borg mentioned in a assertion, including the company would “carry on to play an significant function in the German electricity transition”.

Vattenfall reported that the head of its warmth small business location, Ulrika Jardfelt, would depart the business in link with the review, to be briefly replaced by company place Buyers & Options chief Martijn Hagens.

Vattenfall’s heat business enterprise in Berlin owns and operates 10 heat and CHP (blended heat and ability) vegetation, 80 compact-scale CHP facilities, and many other assets. It employs about 1,700 people.

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Reporting by Helena Soderpalm enhancing by Niklas Pollard

Our Standards: The Thomson Reuters Have confidence in Rules.


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