PATRIZIA has agreed to acquire Statkraft’s district heating business, Statkraft Varme in a deal valued at up to €312 million ($366 million), including a contingent earn-out linked to the future performance of the business.
This covers 100 percent of the shares in Statkraft Varme and will see the business transition to experienced long-term owners with a strong track record in sustainable infrastructure.
Statkraft Varme is one of the leading providers of district heating in Norway and Sweden, operating 13 plants and an extensive distribution network that supplies households, municipalities and businesses with reliable, low-carbon heat. With its flagship asset located in Trondheim, Norway, the business uses surplus energy and renewable sources to generate efficient thermal energy, helping to free capacity in the power grid and reduce emissions.
“District heating is an important part of the green transition and the move toward a more circular economy,” said
