Swedish utility Vattenfall considers selling Berlin heat business

Vattenfall’s CEO Anna Borg appears on right after the presentation of the profits report at the headquarters in Stockholm, Sweden April 29, 2021. Janerik Henriksson/TT News Company/through REUTERS

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STOCKHOLM, Could 4 (Reuters) – Sweden’s Vattenfall (VATN.UL) has initiated a strategic review in excess of a doable divestment of its Berlin warmth small business, as it appears to stage out remaining fossil fuels in its operations, the utility said on Wednesday.

The state-owned organization stated there have been good arguments both of those to maintain and offer the business enterprise, which materials scorching drinking water and heating to about 1.3 million household models.

“In each scenarios, Germany continues to be a key current market for Vattenfall,” Chief Government Anna Borg mentioned in a statement, introducing the business would “keep on to perform an significant part in the German vitality changeover”.

Vattenfall claimed that the head of its warmth small business region, Ulrika Jardfelt, would go away the organization in connection with the evaluate, to be temporarily replaced by small business spot Buyers & Remedies chief Martijn Hagens.

Vattenfall’s heat business enterprise in Berlin owns and operates 10 heat and CHP (blended heat and electrical power) crops, 80 little-scale CHP amenities, and various other belongings. It employs approximately 1,700 men and women.

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Reporting by Helena Soderpalm modifying by Niklas Pollard

Our Expectations: The Thomson Reuters Believe in Ideas.

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