Swedish utility Vattenfall said on Monday it had agreed to sell its electricity distribution business in Britain, Vattenfall Networks, to Eclipse Power.
“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,” it said in a statement.
State-owned Vattenfall said it expected to finalise the deal by the end of the year. It did not disclose the value of the deal.
It said its other operations in Britain, which include onshore and offshore wind, energy trading and district heating, continue as normal.
Source: Reuters.com