Priyanka Shrestha, Energy News Live
Summary
Hamburg is to take over the district heating network in the city from Vattenfall for €950 million (£830m).
The Swedish power company currently owns 74.9% of the district heating system while the city holds a 25.1% minority stake.
The buyout includes the heating grid and the Tiefstack and Wedel plants.
Communal or district heating networks generate heat in central plants and pump hot water into homes via underground cables.
The confirmation comes after a 2013 referendum in which voters asked Hamburg to take ownership of gas, power and district heating systems, following which the city and Vattenfall signed an option contract to purchase the company’s stake in the project.
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