Weekly HEG Global Energy Digest
Snam, Enagas and Fluxys close acquisition of DESFA
The European consortium formed by Snam (60%), Enagás (20%) and Fluxys (20%) today completed the acquisition of a 66% stake in DESFA, the operator of Greek natural gas transport network, to the Assets Development Fund of the Republic Hellenic (HRADF) and Hellenic Petroleum, for an amount of €535 million.
The consortium, which won the tender for the privatisation of DESFA in April 2018, has closed the purchase through the new company Senfluga Energy Infrastructure Holdings. The consortium has obtained financing without recourse for more than 10 years, corresponding to approximately 65% of the value of the company.
The regulated company DESFA owns and operates a transport network of about 1500 km of high pressure gas pipelines and a regasification plant in Revithoussa. Greece is an enclave fundamental for the diversification of the energy supply in Europe and for the opening of new natural gas routes in the continent, which positions the country as a potential gas hub in the southeast of Europe.
Thanks to the support of Snam, Enagás and Fluxys, three of the most important European infrastructure companies committed to the creation of the Energy Union, DESFA will be able to appreciate its position strategic position in the Mediterranean, which will contribute to the growth of the country.
The consortium also will promote new uses of natural gas in Greece, will promote the introduction of renewable gases such as biomethane to create a sustainable energy system, and will actively contribute to the reduction in the country of polluting emissions and greenhouse gases.
Article Source: https://www.energymarketprice.com/energy-news/snam–enagas-and-fluxys-close-acquisition-of-desfa
Vattenfall takes FID for 605- MW Kriegers Flak offshore wind project
Swedish state-owned utility Vattenfall AB today said it has taken the final investment decision (FID) to build the 604.8-MW Kriegers Flak offshore wind farm in Danish waters.
The 72-turbine park in the Baltic Sea will be Denmark’s largest offshore wind complex, once completed. It is planned to be fully commissioned by the end of 2021. About one-fifth of Kriegers Flak’s production will be sold to Danish pharmaceutical group Novo Nordisk AS and industrial enzymes producer Novozymes A/S under a long-term power purchase agreement (PPA) signed this summer.
“The investment in Kriegers Flak will significantly increase Vattenfall’s offshore capacity and is a cornerstone in our ambition to enable fossil-free living within one generation – as well as a major step in Denmark’s green transition,” says Magnus Hall, CEO of Vattenfall.
Meanwhile, Vattenfall said it would wait for the result of an appeal process at the Danish Energy Board of Appeals before taking the final investment decision for the two coastal wind projects at Vesterhav Syd and at Vesterhav Nord, off Denmark, totalling 344.4 MW. The appeal process is expected to be completed by the end of this year.
Construction of the two wind farms, requiring a combined investment of EUR 1.7 billion (USD 1.9bn), is subject to approval by the Danish authorities. The plants, to be located off the west coast of Denmark, are slated to begin operations by end-2020.
Article Source: https://www.energymarketprice.com/energy-news/vattenfall-takes-fid-for-605-mw-kriegers-flak-offshore-wind-project