Ørsted finalizes sale of Radius, residential customer and City Light businesses
Ørsted has finalized the divestment of its Danish power distribution business (Radius), residential customer business, and City Light business to SEAS-NVE for DKK21.4 billion (US$3.4 billion).
As part of the transaction, approximately 750 employees have been transferred from Ørsted to SEAS-NVE.
Radius has approximately one million power customers in the Copenhagen area, North Zealand, and parts of central Zealand. The power supply to the customers is delivered through a grid reaching approximately 19,000km.
The residential customer business sells electricity to approximately 717,000 customers, gas to approximately 105,000 customers, and has approximately 44,000 heat customers.
The City Light business operates and maintains approximately 145,000 street lights in 15 municipalities on Zealand.
Country updates
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August 26, 2020
Northen Europe´s largest subsidy-free solar farm being built in Denmark
Danish energy company Better Energy has started the construction of a new subsidy-free 200 MW solar PV project in Denmark. Heartland is the owner of the plant. Better Energy will be responsible for de...
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August 04, 2020
European Energy offloads 50 MW Hanstholmvej solar project in Thisted
European Energy A/S has signed an agreement for the sale of Solar Park Hanstholmvej in Denmark with a total capacity of approximately 50 MW. The buyer is the LHI Group, a German investment management...
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July 21, 2020
Construction of the world’s longest electricity interconnector begins
The construction phase of the Viking Link Interconnector project, a high-voltage direct-current (HVDC) link between the UK and Denmark, has commenced with Siemens Energy Ltd mobilizing to the site to...
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June 18, 2020
First close achieved for Copenhagen Infrastructure IV
Copenhagen Infrastructure Partners (CIP) has reached EUR 1.5 billion (US$ 1.69 billion) first close on Copenhagen Infrastructure IV (CI IV), which is set to become the largest fund globally within ren...
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June 18, 2020
EUR 2 billion interconnector in Europe gets ECAs support
1,400 MW Viking Link Interconnector between Denmark and the UK gets support from SACE Export Credit and Euler Hermes Export Credit through the first-ever multi export credit agency (ECA) covered green...
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