Vattenfall sells power stations to Tekniska Verken

Vattenfall sells power stations to Tekniska Verken Vattenfall sells the seven hydropower stations in Motala ström. That is the contents in an agreement on principles between Vattenfall AB and Tekniska Verken i Linköping AB. Tekniska Verken buys the power stations Motala, Borensberg, Malfors, and Nykvarn plus Vattenfall's 99-percent share in Ljusfors Kraft AB. That company owns the stations Älvås, Skärblacka and Fiskeby. All stations are situated in Motala ström. Their total production a normal year adds up to 198 GWh net. "This acquisition marks our regional roots. We see it as a natural development, since the power stations are all within our regional area of activities," says Stig Holm, CEO for Tekniska Verken. "An emphasis on hydro power also strengthens the expressed environmental profile which Tekniska Verken and Östkraft have. Locally produced hydropower is a form of energy with environment label, which our customers have a positive attitude to. Buying already built hydropower is one of the best ways of getting access to competitively priced power." "This deal is a minor adjustment in Vattenfall's ownership portfolio and one step in our effort to make the Group's capital use more effective", says Alf Lindfors, chief of Vattenfall's power production. Tekniska Verken already owns seven hydropower stations in Stångån's and Svartån's hydro system: Odensfors, Svartåfors, Bruksfallet, Flemminge (all in Svartån), Hackefors, Tannefors, Nykvarn (all in Stångån). Now the company becomes the dominating hydropower producer in the area, which gives both environmental and co-ordination advantages. The agreement in principle presupposes decision in each party's board and that undertakings regarding the staff according to MBL (the Act on Co-Determination at Work) have been carried through. The selling of assets in Ljusfors Kraft AB shall also be discussed with the minority owner Assi Domän Skärblacka AB, which owns one percent of the shares in the company. From Vattenfall's Press department, telephone: 08-739 50 10. For further information, please contact: Kjell Isaksson, Vattenfall, tel +46-920-77176, mobile 070-555 21 72. Stig Holm, CEO, Tekniska Verken i Linköping AB, telephone +46-13-209060. Lasse Jansson, chief of information, Tekniska Verken i Linköping AB, telephone +4670-579 91 92. Vattenfall is one of the largest energy companies in Europe, accounting for 25 percent of total electricity sales in the Nordic region. The total electricity generation is 85 TWh. Vattenfall is a leading operator of regional and local distribution networks. About 2.4 millions customers get their energy solutions or other services from Vattenfall. The Group also conducts operations in the areas of heating and natural gas, as well as transmission services and consulting for the energy sector. Vattenfall's biggest customers are energy companies, industrial enterprises, and retail customers in the Nordic region. Vattenfall is also active in the Baltic countries, Germany, the Netherlands and Poland. Tekniska Verken i Linköping AB is owned by Linköping municipality. The Group consists of one parent company and seven subsidiaries. The Group is active in a number of fields which in different ways concern the technical service of the society: power, district heating, remote cooling, water and drainage, waste treatment, street-lighting, contracting, bio-gas, broadband and IT. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2000/11/14/20040817BIT20580/wkr0001.pdf