Swedish power company Vattenfall has announced the sale of its 660 MW Nordjylland CHP-plant for DKK823 million (US$123 million) to district heating firm Aalborg Forsyning in Denmark.
As of 31 December 2015, Aalborg Forsyning will take over the coal-fired plant, thereby acquiring the last of Vattenfall's fossil assets in Denmark. The transaction is subject to approval from relevant authorities.
Aalborg Forsyning will acquire the asset for an enterprise value of DKK823 million (US$123 million), consisting of DKK725 million (US$109 million) in cash consideration and takeover of decommissioning obligations and environmental liabilities.
Located in Vodskov, 17 km northeast of Aalborg, Nordjylland Power Station is one of the world's most efficient coal-fired plants with an installed capacity of 660 MW of electricity and 464 MWth of district heating.
Ingrid Bonde, CFO and Deputy CEO of Vattenfall, has commented:
"With the divestment in Denmark, Vattenfall has completed an important step in its transition from fossil fuels into renewable energies."
Prior to the sale of Nordjylland Power Station, Vattenfall had already divested two other coal-fired plants: the Amager Power Station (in 2013) and the Fyn Power Station (in 2014).
Denmark remains a core renewable energy production market for Vattenfall. With 262 wind turbines in 37 wind farms, the company is the largest owner and producer of onshore wind power in Denmark.