Swedish energy giant Vattenfall buys Danish electricity supplier Vindstød, to get foot in the market.

Vattenfall has acquired Vindstød.dk to take the step into the Danish retail market. Vindstød.dk provides electricity from 100% wind power to all Danish customers.

The acquisition of Vindstød.dk and thus entry into the Danish retail market is an important milestone that fits well into Vattenfall's strategy to invest in small and innovative companies that can grow with Vattenfall as owner.

Vindstød.dk have an existing customer base who actively chose wind energy for its electricity supply and the aim now is to grow further.

- Demand from customers has meant that this is a natural step for us as we move from being producers of wind power in Denmark to also supply 100% renewable electricity to customers. Vindstød.dk is an innovative, successful and fast growing company that had a groundbreaking effect on the Danish consumer market, says Martijn Hagens, head Customers & Solutions, Vattenfall.

After the last three successful tenders in Danish offshore wind farms, Vattenfall will now also be able to offer electricity from wind power to customers in Denmark. This is in line with Vattenfall's strategy to be a leader in sustainable energy production and consumption.

- The acquisition in Denmark gives us an attractive customer base, a powerful IT platform and an efficient organization. We enter as a strong party and Vindstød.dk will further develop the promise of 100% wind power. We aim to grow your business, says Martijn Hagens.

Vattenfall has a strong position in Denmark as the country's largest developer and operator of onshore wind power, and Vattenfall is growing fast in offshore wind power. To now offer Danish customers electricity from wind power is an attractive complement to our current operations in Denmark.

- The Danish consumer market has great growth potential. The acquisition of Vindstød.dk is just the beginning. We'd love to open up and engage in a dialogue with similar companies to discuss their business, says Martijn Hagens.

The parties have agreed not to disclose the purchase price.

Vindstød.dk founded in 2012 by Morten Nissen Nielsen. The company supplies 100% wind power purchased from Danish wind power producers. The founder and CEO of Vindstød.dk, Morten Nissen Nielsen, will remain as CEO.

Original story