Vattenfall and Swedfund acquire Buchanan shares

Swedish energy company Vattenfall and risk-capital company Swedfund, also based in Sweden, are to acquire 30 per cent of Liberian power company Buchanan Renewables Fuel, of which Vattenfall’s share will be 20 per cent for €20m (£17m) and Swedfund’s will be 10 per cent for €10m.

Vattenfall already has a sourcing agreement with Buchanan Renewables and is now becoming a partner to expand the operations and secure a significant biomass supply.