Danske Commodities announced today that Equinor had completed the acquisition of the Aarhus-based power and gas trader for EUR 400 million, with smaller contingent payments depending on Danske Commodities’ performance over the next couple of years.
The acquisition combines Danske Commodities’ leading market presence and expertise in energy trading with Equinor’s leading position in oil and gas, growing portfolio in renewables and strong balance sheet.
With deal close, Equinor will transfer all power and certificates trading activities to Aarhus to take advantage of Danske Commodities’ highly scalable platform. The transfer of power trading covers all activities across the entire value chain, including balancing and optimisation of Equinor's growing renewable portfolio. Gas trading will continue through Equinor’s team in London and in Aarhus with Danske Commodities.
“This is an exciting new chapter for both companies,” said Danske Commodities CEO and founder Henrik Lind. “Together, we see immediate opportunities to support Equinor’s renewables portfolio, grow trading capacity and build flexibility in both power and gas – and this is just the beginning.”
“We are delighted to welcome Danske Commodities to Equinor as we take another step in our journey towards becoming a broad energy company,” said Tor Martin Anfinnsen, Senior Vice President, Marketing & Trading in Equinor. “We are excited to work with Danske Commodities’ people, trading platform, and geographic footprint to expand our renewables business and achieve significant scale in power and gas trading.”
As a wholly-owned subsidiary of Equinor, Danske Commodities will continue to operate under its own name and brand while increasingly collaborating across relevant commercial and operational activities with Equinor.
