District heating network in the canton of Aargau is growing
Regionalwerke AG Baden buys AEW Energie AG's shares in Fernwärme Siggenthal AG. RWB now holds a 27.3 per cent stake in FWS.
Regionalwerke AG Baden(RWB) has acquired the shares of AEW Energie AG in Aarau in Fernwärme Siggenthal AG(FWS), according to an ad hoc announcement. In doing so, RWB intends to expand its commitment to sustainable energy supply in the region. AEW Energie specialises in solar power in the canton of Aargau. The sale price was not disclosed.
RWB has reportedly been working successfully with FWS for many years. The acquisition of the 27.3 per cent stake in FWS is intended to deepen the partnership. FWS, which is based in Nussbaumen, is stable and financially independent and has developed very positively over the last few years since it was founded. It therefore describes RWB as an ideal partner.
“The investment in Fernwärme Siggenthal AG fits in perfectly with RWB’s activities in the area of district heating,” Managing Director Michael Sarbach is quoted as saying. “Both companies attach great importance to the further expansion of district heating in the region.” Adrian Hitz, Chairman of the FWS Board of Directors, refers to the good cooperation with RWB to date: “Now that AEW has decided to sell its shares, we are relieved that we already know the future shareholder well, as we have already developed and realised a very good project together with the SIBANO connecting pipeline.” SIBANO is a 3.3 kilometre long district heating transport pipeline from the Turgi waste incineration plant to the Baden Nord heating centre.