Vattenfall has decided to sell its 55 percent majority share in the Rugenberger Damm waste incineration plant (MVR) to Stadtreinigung Hamburg (SRH) who already holds 45 percent of the shares.
"We are pleased that we have reached a good agreement with Stadtreinigung Hamburg for all sides, including MVR employees. With this modern plant, we have been recycling waste from Hamburg households in close and good cooperation with Stadtreinigung over the past 20 years, thus making a significant contribution to climate-friendly energy," says André Bandilla, Managing Director of Vattenfall Europe New Energy GmbH.
Vattenfall decided in 2014 to gradually withdraw from thermal waste incineration and at that time sold its waste incineration plant Borsigstraße (MVB) to Stadtreinigung Hamburg.
“Following the sale of its majority share in the Hamburg district heating system to the municipal companies of the City of Hamburg last year, the sale of the majority share in the Rugenberger Damm waste incineration plant is the next logical step. For MVR's almost 100 employees, nothing will change directly as a result of the change in ownership,” says André Bandilla.
The sale will be completed with economic effect from 1 January 2020. The purchase agreement signed today is subject to the approval of the supervisory bodies of the companies involved and to clearance by the cartel office.