Energy Supply (electricity, gas, district heating)
District heating: Commercial and technical due diligence
Strategic consulting for a sustainable energy future – Drees & Sommer supports Steag Iqony Group in the acquisition of Uniper Wärme GmbH
© Steag Iqony Group750 kilometers of heat. Five locations. One goal: climate neutrality!
The energy company Steag Iqony Group is considered a pioneer when it comes to combining security of supply and sustainable energy production. With the closing in November 2025, the group took over the heating company Uniper Wärme GmbH. The merger created one of the largest district heating networks in Europe with around 750 kilometers of heating lines and five production sites.
What makes this project special is that district heating uses waste heat, renewable energies, and efficient large-scale plants to provide enormous amounts of heat in a sustainable manner. This makes the project one of the beacons of the zero-carbon transformation and an important contribution to a sustainable energy supply. It also stands for interdisciplinary collaboration between experts from different departments at Drees & Sommer and PwC Germany.
How Europe's largest district heating network came into being
Drees & Sommer supported the Steag Iqony Group during the takeover with a comprehensive technical analysis. The team inspected the existing facilities, analyzed the decarbonization potential of generation and the network, and developed CAPEX and OPEX scenarios. In addition, the experts provided in-depth assessments of technical system integration and answered relevant questions about control and regulation technology as well as network technology. In this way, they laid the foundation for the commercial valuation of the company.
The commercial valuation included sales and price analyses, supply and purchasing relationships, and all relevant assumptions and fundamentals for the business case of a future heating company. It was carried out in an established and proven cooperation with PwC Germany.
ADDED VALUE
- Customer satisfaction increased through an individual approach and close involvement
- Services were implemented effectively and in partnership thanks to the strategic cooperation between Drees & Sommer and PwC
- The experts pooled their expertise in the fields of control engineering, control rooms, electrical engineering, hydraulics, geoinformation systems, economics, project management, and energy management, seamlessly integrated complex requirements, and developed innovative solutions
- The goal of high quality and short training periods was achieved despite complex structures and tight, binding deadlines
Services
- Evaluation of existing plants and the decarbonization of power plant sites and the grid, including CAPEX/OPEX development
- Technical system integration between buyer and seller evaluated
- Foundations for commercial company valuation created through commercial valuation in collaboration with PwC Germany
- Energy industry and technical consulting
- Sustainability and ESG requirements assessed
- PMO services performed
- Merger of control center and control rooms examined (macom – Part of Drees & Sommer)
“The merger opens up new opportunities for the regional heat transition. The merger of the networks creates clear synergies. Capacities are used much more efficiently. This benefits the entire region – through sustainable cost efficiency.”
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