Equans, a specialist operating in the energy and services sectors and a subsidiary of the Bouygues group, has finalized the sale of its U.K. district heating and cooling networks to a consortium composed of Swiss Life Asset Managers and Schroders Greencoat.
The business that was sold, known as Equans Urban Energy, includes East London Energy and Equans DE Holding Company. The portfolio is fully operational and consists of 12 district heating and cooling networks, servicing residential, commercial, public and retail customers.
With 432 megawatts of heating capacity, 117 megawatts of cooling and 67 megawatts of electricity, Equans’ district heating and cooling portfolio is the largest city-scale district heating company in the United Kingdom. The transaction represented an aggregate enterprise value of around £255 million ($282 million).
The agreement with the consortium was initially signed in September 2023 and has now obtained the necessary approvals from th