Production of heat, operation of a district heating system in the Grämigen area, carrying out of real estate transactions of all kinds, in particular acquisition, rental, management and sale of properties as well as construction of buildings. The company may establish branches and subsidiaries in Switzerland and abroad, participate in other companies in Switzerland and abroad, acquire, encumber, sell and manage real estate in Switzerland and abroad, provide financing for its own account or for the account of third parties, and grant guarantees and sureties for subsidiaries and third parties.