Swedish utility Vattenfall has signed an agreement with Italian energy company Eni to sell its Belgian operations for about EUR157m on an enterprise value basis.

Swedish utility Vattenfall has signed an agreement with Italian energy company Eni to sell its Belgian operations for about EUR157m on an enterprise value basis.

The transaction includes Nuon Belgium, which has about 550,000 electricity and gas connections, as well as its subsidiary Nuon Wind Belgium, and Nuon Power Generation Walloon.

Nuon Power Generation Walloon comprises a combined-cycle gas turbine power project in an advanced stage of development.

Nuon Belgium holds a renewable energy capacity of 4.5MW through its subsidiary Nuon Wind Belgium.

The transaction is expected to be completed in 2011 after European competition approval is received.

Vattenfall said the sale of its Belgian operations is part of its new strategic direction to focus on the core business and markets in Sweden, Germany and Netherlands.