Vattenfall is on the cusp of offloading its remaining fossil fuel assets in Denmark.
The company is selling its 410 MW Nordjylland coal-fired power plant in Denmark, completing the sale of its fossil-fuel assets in Denmark in line with group strategy to focus on a more sustainable energy production, it said Wednesday.
As of December 31 district heating company Aalborg Forsyning will take over the Nordjylland combined heating power station, it said.
The enterprise value is approximately $122m, Vattenfall said.
"With the divestment in Denmark, Vattenfall has completed an important step in its transition from fossil fuels into renewable energies," Vattenfall CFO Ingrid Bonde said. Before the sale of Nordjylland, Vattenfall already divested two other coal fired plants at Amager in 2013 and Fyn in 2014.
The transaction is subject to approval from the relevant authorities.