The natural gas-based combined heat and power plant supplies around 100,000 households with electricity and district heating.
(Photo: dpa)
Frankfurt The energy supplier Vattenfall wants to continue its gradual withdrawal from Germany and say goodbye to its Berlin district heating business. The company is preparing a sale process with the help of investment bank Citigroup, people familiar with the transaction said. In the coming weeks, information packages are to be sent to interested parties, including the state of Berlin.
The company known as Stadtwärme could be valued at more than three billion euros. At the same time, many market participants expect that the Swedish state-owned company could part with its almost 32 percent stake in the gas supplier Gasag, even if it has not yet put it up for sale. Berlin is also considered a possible buyer here.
A Vattenfall spokesman said the company had started a process to strategically reassess city heat. “A decision could be made in early 2023,” he said.
Berlin could involve external investors
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