RWE to Purchase Vattenfall’s Dutch Power Plant Magnum

Swedish power supplier Vattenfall and German energy company RWE have agreed that the latter will take over Vattenfall’s Magnum gas-fired power station in the Dutch Eemshaven. The EUR 500 million sale will equip Vattenfall with more resources to invest in the energy transition.

Alexander van Ofwegen, Head of Dutch Heat Operations and CFO in the Netherlands, Vattenfall: “In RWE we have found an expert and experienced buyer in the energy field with a clear role for the Magnum plant in the future. This gives employees security and the opportunity to further develop themselves and the power plant. Magnum is a profitable and state-of-the-art gas-fired plant with an important role in the security of supply in the Netherlands. At the heart of Vattenfall's Heat operations is however the district heating and cooling business where Vattenfall is focusing on decarbonizing the heat supply to their customers as part of the gas phase-out in the Netherlands. The proceeds from the transaction give Vattenfall more resources to invest in the energy transition, such as offshore wind and district heating and cooling.”

The Magnum gas-fired electricity plant consists of three so-called combined cycle gas turbines, which together have a total capacity of 1,410 MW.

The agreement also comprises a 5.6 MW solar park. It will house about 18,000 solar panels and will be situated on the terrain of the Magnum plant.

As per the agreement signed with RWE, all Magnum employees will be shifted to the new proprietors and preparations will be made for a seamless transition of employees and operational matters to the new owner in the coming months.