Copenhagen earns millions on cold water

Date: 13 May 2014

Copenhagen company Hofor District Cooling invested 122 million DKK last year, but still manages a small plus at the bottom line.

The Copenhagen company that provides cooling through a district heating-like network to parts of the city’s major buildings – Hotel D’ Angleterre, Magasin and Nordea – last year increased its turnover by 9 million DKK to total 23.6 million DKK. This gives a total profit of 3.2 million DKK before tax, which is slightly better than expected.

The company last year alone invested 122 million DKK in e.g a new cooling plant at the Town Hall Square.

Hofor District Cooling has today signed a total of 39 supply agreements but typically there wil be a few years before customers are actually being connected. The company plans to expand to Copenhagen North Harbour, and is currently extending the cooling center in the City of Copenhagen. The expectation is also that they can continue the three-digit million annual investments in order to grow steadily at about six MW per year.

Source: EnergiWatch