🇳🇴 Statkraft is seeking new owners for district heating operations

May 2, 2024
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Statkraft is exploring opportunities to find new owners for its district heating business. The company informed its approximately 150 employees in the district heating sector in Norway and Sweden today.

To enhance competitiveness and increase profitability, the district heating operations need to continue to grow to achieve technological and commercial economies of scale. In recent years, Statkraft’s district heating unit has successfully grown organically, but it has not yet reached the necessary scale.

On Thursday morning, Statkraft’s Executive Vice President Jürgen Tzschoppe and CEO Birgitte Ringstad Vartdal briefed all employees in the district heating operations about the decision to seek new owners.

“We are proud of our more than 150 employees and what we have achieved through our commitment to district heating for over forty years. Further growth in the company will require significant investments to ensure economies of scale and competitiveness, but this will have limited synergies with other parts of Statkraft. We will therefore explore opportunities to find new owners who can further develop the district heating business,” said Jürgen Tzschoppe.

District heating is an important part of the green transition and the move towards a more circular economy. The use of surplus energy helps to free up crucial capacity in the power grid.

Statkraft Varme has been involved in energy recovery and district heating since 1982. The district heating business is currently a significant player at 13 locations in Norway and Sweden, delivering around 1.2 TWh of renewable energy annually to more than 40,000 end users.

“We are looking for new owners who have the resources and ambition to develop the company from a long-term, industrial perspective. Our enquiries will therefore primarily focus on finding owners who can realise the potential inherent in this business,” Tzschoppe added.

Statkraft expects that the process of finding new owners may take some time, and will remain a responsible owner during this period. Neither the operation of the facilities, the development projects, nor the heating and cooling deliveries to customers will be affected by this process.


Originally published on 2 May by Statkraft.

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