EY-Parthenon advised Oslofjord Varme on Drammen Fjernvarme acquisition

On 1 July 2026, it was announced that Oslofjord Varme is acquiring the remaining 50% stake in Drammen Fjernvarme from Å Energi, bringing Oslofjord Varme's stake to 100% of the district heating business.

Drammen Fjernvarme is a licensed district heating operator in Drammen, producing district heating based on energy from the Drammensfjord through one of Norway's largest high-temperature heat pump facilities. By utilizing local energy resources, the company helps relieve the power grid and facilitates electrification and further development of the region.

Oslofjord Varme is a leading Norwegian independent and privately owned provider of district heating and district cooling infrastructure, with nearly 40 years of experience. The company supplies green and energy-efficient heating based on environmentally friendly heat pump technology to customers in Bærum, including the areas of Sandvika, Fornebu, and Bekkestua.

Oslofjord Varme manages its ownership interests in Fredrikstad Fjernvarme (57%), Drammen Fjernvarme (50%, prior to the acquisition) and Enebakk Bioenergi (70%).

EY‑Parthenon congratulates all parties involved on a successful transaction.

Read more about the transaction.

The transaction is subject to final approvals from the Norwegian Competition Authority and Norwegian Water Resource and Energy Directorate (NVE).

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