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Equans to Sell its UK District Heating and Cooling Network Activities

Equans to Sell its UK District Heating and Cooling Network Activities
18 September 2023
 

Equans, a subsidiary of the Bouygues group, is to sell its UK district heating and cooling network portfolio to a consortium formed by Swiss Life Asset Managers and Schroders Greencoat LLP.

East London Energy Limited,  Equans DE Holding Company Limited and Humber Energy (collectively known as Equans Urban Energy) will be included in the deal.

Equans has heat network concessions in Queen Elizabeth Olympic Park and Battersea, as well as other UK cities. These sites have a central energy centre serving a range of buildings through a network of underground pipes and cables.

Gabriele Damiani, Head of Core Infrastructure at Swiss Life Asset Managers, and Minal Patel, Partner at Schroders Greencoat, said: “We remain committed to Urban Energy’s net-zero ambitions and plan to make investments in the coming years to support the continued decarbonisation and growth of both existing and new heat networks. This will serve the UK’s wider net-zero objectives as well as the UK government’s Levelling Up agenda, by supporting local employment and investment in local critical infrastructure.”

The transaction is set to complete in Q4 of 2023.

Picture: a photograph of Queen Elizabeth Olympic Park, showing the ArcelorMittal Orbit sculpture. Image Credit: Unsplash

Article written by Ella Tansley | Published 18 September 2023

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