Vattenfall to divest its UK electricity distribution business
Vattenfall has signed an agreement to divest its Independent Distribution Network Operator (IDNO) business in the UK, Vattenfall Networks Ltd, to Eclipse Power Limited, owner of another IDNO business - Eclipse Power Networks. Eclipse Power Group is a wholly owned subsidiary of the Octopus Sky Fund, which owns and manages infrastructure across the UK. The sale supports Vattenfall’s purpose to enable fossil freedom and its commitment to financial discipline, enabling the company to optimise resources and further invest in fossil-free energy solutions.Since being established in 2018,