Statkraft has signed an agreement to divest its entire district heating operations, grouped under the subsidiary Statkraft Varme, to a consortium formed by Patrizia SE and Nordic Infrastructure AG. The transaction, valued at NOK3.6bn ($331mn), aligns with a strategy to focus on key technologies such as hydropower, wind energy, solar energy, and batteries in selected markets.
A strategic refocus for Statkraft
The Norwegian group had announced in May 2024 its intention to seek new ownership for the division, active for more than four decades. Statkraft Varme currently serves over 40,000 customers in Norway and Sweden, across thirteen sites delivering around 1.2 terawatt-hours annually. The company operates in a sector heavily regulated by public authorities, playing a structuring role in local energy ecosystems.
All Statkraft Varme employees will retain their positions and rights under applicable regulations. The group emphasised that the sale would release capital to support its investments in renewable power generation in Norway, particularly in hydropower and wind, which it views as strategic priorities.
Buyers already established in the sector
The acquiring consortium is composed of two firms already active in the Nordic district heating market. Patrizia SE, through its subsidiary SAREN Energy, owns Kvitebjørn Varme in Tromsø, as well as facilities in Sarpsborg and BIO-EL. Nordic Infrastructure AG also operates in the field, with a strong regional track record.
The two companies stated their intention to integrate Statkraft Varme’s local expertise into their global platform, aiming to further develop low-emission energy supply solutions. The transaction is subject to approval by Norway’s competition authorities, with completion expected by year-end.
