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Swedish Energy

Vattenfall Makes 8.5-billion-Euro bid for Dutch Nuon

Published måndag 23 februari 2009 kl 11.55
Lillgrund Wind Farm

The Swedish Utility company Vattenfall has made a 10.9 billion dollar offer for Dutch energy company Nuon.

Nuon has recommended the offer to its shareholders. Subject to their approval, the deal will go through in the second quarter of this year.

Last year Vattenfall, one of the world’s leading wind farm operators, teamed up with ScottishPower Renewables to make a joint bid for offshore licenses in Britain to run 6,000 megawatts of installed capacity.

Lars G. Josefsson, CEO of Vattenfall said ”I’m very pleased that we can take this important step. Nuon’s widely respected knowledge in renewables and clean energy technologies is a very valuable addition to our own. It will accelerate the realisation of Vattenfall’s strategy to make electricity clean. The partnership also enables us to further implement our strategy towards a leading position in the European energy market and enhance our position in gas.”

Vattenfall owns two of the world’s largest offshore windfarms, Lillgrund off the south coast of Sweden and Horns Rev in the Danish North Sea.

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