Agder Energi and Statkraft enter into collaborative agreement on wind power

27.06.2007 08:00 | pressrelease

Agder Energi AS and Statkraft AS have entered into a Letter of Intent to collaborate on wind power. The agreement covers the development, expansion and operation of wind farms in Norway and the rest of Europe.

Both companies have major ambitions with regard to developing and expanding wind power in Norway and internationally in the years to come. Agder Energi has secured the rights to utilise land in Norway for the purpose of wind power, and is working on several projects pending an investment decision. Statkraft’s work in Norway includes the construction of Smøla Wind Farm (Phase 1 and 2) in Nordmøre, Hitra Wind Farm in Sør-Trøndelag and Kjøllefjord Wind Farm in Lebesby municipality in Finnmark. The company also has several other wind farm projects under development. Together, the two parties have plans to expand their wind power capacity by 4 TWh by 2017.

Joint ownership

The agreement has been drawn up as a result of a shared desire to combine forces and exploit the potential that lies in the overall competences and financial capacity of the two companies. The partnership will involve joint ownership of both parties’ existing and planned wind farms. The parties also wish to join forces with key players in wind power on the Continent in order to facilitate a broad focus on wind power internationally.

The parties are to have specific functions and tasks in relation to the development, expansion and operation of wind farms, based on the skills which each party possesses.

Recognition

“The agreement is a strong recognition of the wind power environment which Agder Energi has carefully built up over time and the projects which this environment is about to bring to fruition. The international dimension of the agreement paves the way for Agder Energi to participate in the extremely interesting wind power developments taking place in Europe,” comments Tom Nysted, CEO of Agder Energi.

“The agreement signals our ambitions in terms of innovation and further investment in wind as an energy source. Wind power is 100% clean, environment-friendly energy, and represents part of the solution to the challenges of climate change. The agreement confirms our strategy of developing strong regional operations in Norway. At the same time, we are also strengthening our position as a leading European company in the field of environment-friendly energy,” explains Bård Mikkelsen, CEO of Statkraft.

Agder Energi has the vision of becoming Norway’s leader in environment-friendly energy solutions. The group’s operations include the production, distribution and sale of energy, energy-related services, and the expansion and operation of fibre optic networks. Agder Energi has around 1,100 employees. See also www.ae.no.

The Statkraft Group is a leading player in Europe within renewable energy. The Group generates hydropower, wind power an district heating and constructs gas power plants in Norway and Germany. Statkraft is a major player on the European energy exchanges. In Norway the company supplies electricity and heat to around
600,000 customers through its shareholdings in other companies. In 2006 Statkraft recorded a profit after tax of NOK 6.3 billion, and employed more than 2,100 employees in eight countries. The world needs pure energy. Statkraft works to deliver this every day.