Vattenfall and HOFOR agree on sale of Amager CHP power station in Denmark
Vattenfall and Danish municipal utility HOFOR have signed an agreement regarding the sale of Vattenfall’s Amager power station in Denmark. HOFOR will take over the power station in Copenhagen with all current employees and all binding obligations.
The enterprise value amounts to circa DKK 2bn comprising of a cash consideration of DKK 415m as well as other items relating to a repayment liability regarding prepayments from heat customers and demolition obligations.
Amager power station comprises of two combined heat and power units with a combined electrical capacity of 314 Megawatt and a combined heat capacity of 583 Megawatt. It is fuelled with coal and biopellets. In 2012, approximately 1,260 GWh electricity and 2,100 GWh heat were produced.
The existing contracts with customers will still be valid. The transaction is expected to be completed by end of December 2013. Until the legal closing of the transaction, no changes will occur for employees, customers and suppliers.
The renewables and sales businesses as well as trading and research & development in Denmark will remain under the ownership of Vattenfall.