Swedish utility Vattenfall considers selling Berlin heat business

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

STOCKHOLM, May possibly 4 (Reuters) – Sweden’s Vattenfall (VATN.UL) has initiated a strategic review above a probable divestment of its Berlin heat small business, as it looks to section out remaining fossil fuels in its operations, the utility explained on Wednesday.

The state-owned corporation said there were excellent arguments both equally to keep and offer the organization, which supplies scorching h2o and heating to about 1.3 million household units.

“In both scenarios, Germany stays a crucial current market for Vattenfall,” Chief Government Anna Borg stated in a statement, introducing the organization would “continue to perform an crucial job in the German vitality transition”.

Vattenfall mentioned that the head of its warmth business enterprise location, Ulrika Jardfelt, would go away the business in link with the review, to be quickly replaced by business area Shoppers & Remedies chief Martijn Hagens.

Vattenfall’s heat enterprise in Berlin owns and operates 10 heat and CHP (blended warmth and electricity) vegetation, 80 little-scale CHP amenities, and various other assets. It employs about 1,700 folks.

Reporting by Helena Soderpalm enhancing by Niklas Pollard

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