Vattenfall has announced the signing of an agreement to transfer its UK power grid, operated through its independent distribution network operator (IDNO) unit, to Eclipse Power Limited, a subsidiary of the Octopus Sky Fund. This decision marks a further step in the Swedish firm’s strategy to reinforce its focus on fossil-free energy projects and strengthen its financial discipline. and strengthen its financial discipline.
Consolidation of the UK electricity network in the market
The sale of Vattenfall Networks Ltd represents a relevant transaction within the UK electrical infrastructure market. Since its creation in 2018, this unit has connected residential, industrial and
The transaction will allow Eclipse Power to expand its presence as an independent private grid operator, integrating technical and human resources that drive grid modernization and electrification on a national scale.
Strategic alliances for a more sustainable energy system
Eclipse Power, backed by the Octopus Sky fund, manages energy assets throughout the country. With this acquisition, it strengthens its position in a highly competitive environment and accelerates its ability to offer high-performance solutions to customers in a variety of industries.
Annika Viklund, head of distribution at Vattenfall, is responsible for Vattenfallstressed that the agreement ensures operational continuity for employees, customers and partners. She also underlined that the unit sold has performed outstandingly well since its arrival in the UK market.
Spencer Thompson, CEO of Eclipse Power Limited, highlighted the cultural and technological compatibility between the two organizations, which will facilitate integration and the development of new projects.
Vattenfall redirects its focus to clean energies
Final closing of the sale is expected by the end of 2025. Vattenfall’s remaining operations in the United Kingdom, which include wind powerwind power, electricity trading and district heating, will continue unchanged. The firm is refocusing its capital and expertise on decarbonized energy solutions, in line with its long-term objectives.
This operation highlights how companies in the electricity sector are repositioning themselves to meet the challenges of the energy transition, prioritizing financial efficiency and sustainable growth.
Source: Vattenfall
Photo: Shutterstock
