Statkraft takes over 24 hydroelectric power stations in Sweden and Finland

03.10.2005 08:00 | pressrelease

Today Statkraft takes over hydroelectric power stations in Sweden and Finland with an average annual production of approx. 1.6 TWh. The transaction is based on an agreement of 1 July 2005 between the Sydkraft group (now E.ON Sverige) and Statkraft. The transaction price is approx SEK 4.5 billion. Operation of the power stations will be co-ordinated with the operation of Statkraft’s other power stations.

In Sweden, Statkraft is taking over 20 power stations with an average annual production of approx. 1.3 TWh. The power stations are located on the Ångerman, Skellefte and Gide rivers. In Finland, Statkraft is taking over four power stations with an average annual production of approx. 0.3 TWh. The power stations are located near the town of Kotka, in the south-east of Finland, and west of Tampere in south-western Finland. All the power stations previously belonged to the Graninge company. In connection with the transaction, Statkraft is also taking over the rights to the Graninge name.

“This acquisition is important to our strategy for Europe. We are already an important player in the Nordic market. With this agreement, we gain access to hydroelectric production in Sweden and Finland. This gives us a solid platform for further growth in the Nordic region and strengthens our position as one of Europe’s leading producers of environment-friendly energy,” says CEO Bård Mikkelsen.

Statkraft aims to be a leading European player in the field of environment-friendly energy. With a foundation of over 100 years’ knowledge and investment, the group is well equipped for further growth and development, with a will for the creation of enduring added value. We stand for sustainable development, in both the environmental and economic senses. The group has a total power production of 41 TWh and is therefore the Nordic region’s third-largest energy producer and the second-largest producer of renewable energy in Europe. The group has about 2,000 employees, including those of Skagerak Energi and Trondheim Energiverk. Statkraft also has shares in the Norwegian power companies BKK, Agder Energi and Fjordkraft as well as in E.ON Sverige.