Swedish energy company,Vattenfall, decided to divest its Nordjylland coal-fired power plant in Denmark, the company announced on Wednesday.
Vattenfall, which will complete the sale of its fossil assets in Denmark with the sale of Nordjylland, is now focusing on more sustainable energy production.
"Denmark remains a core Vattenfall market for renewable energy," the company said.
Danish district heating company Aalborg Forsyning will take over the plant as of Dec. 31, 2015. The value of the transaction will be about $123 million.
"With the divestment in Denmark, Vattenfall has completed an important step in its transition from fossil fuels into renewable energies," said Ingrid Bonde, Vattenfall’s chief financial officer and deputy chief executive officer.
The Nordjylland power station has three units with a capacity of 419 megawatts of electricity.
Before the sale, Vattenfall divested two other coal-fired plants in Denmark: the Amager power station in 2013 and the Fyn power station in 2014.
Vattenfall still has 262 wind turbines located in 37 wind farms in Denmark. The company is the largest owner and producer of onshore wind power in Denmark.
By Murat Temizer