Statkraft and the Russian Federal Hydropower Generating Company (Hydro OGK) to cooperate within business development in the Russian hydropower industry
Statkraft, Hydro OGK and the Norwegian-Russian company Rosnor Energo signed on December 10th a memorandum of understanding with respect to further cooperation in the Russian hydropower sector.
The Norwegian Ministry of Modernisation has resolved to revoke the order issued to Statkraft to sell Trondheim Energiverk (TEV). Now that it has the opportunity, Statkraft will - as previously stated - retain TEV.
(Oslo, 10 November 2005) Profits for the Statkraft Group continued to strengthen in the 3rd quarter as a result of high production levels. Revenues from financial power hedging were considerable, financial expenses were reduced and gains from the sale of assets were taken to income during the quarter. Statkraft made a profit before tax of NOK 1,317 m (NOK 241 m) in the 3rd quarter, while the group's net profit totalled NOK 904 m (NOK 380 m). In the first 9 months of the year Statkraft made a profit before tax of NOK 5,343 m (NOK 2,874 m), while its net profit totalled NOK 3,534 m (NOK 2,205 m).
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.
(Smøla/Oslo, 27 September 2005) Former Norwegian prime minister Gro Harlem Brundtland will later today open the second phase of Statkraft's Smøla wind farm. Smøla is Europe's largest land-based wind farm, with 68 wind turbines generating a total of 450 GWh of electricity per year. This corresponds to the average annual power consumption of 22,500 Norwegian households.
(Oslo, 23 September 2005) Statkraft has put together a comprehensive solution to comply with the competition-related directive it received in connection with the acquisition of Trondheim Energiverk. "We are working to retain ownership of the company, but since a decision has not yet been reached in the matter, Statkraft is compelled to prepare for a possible sale," says Statkraft's CEO Bård Mikkelsen.
Oslo, 21 September 2005) Today the board of Statkraft has decided to build the Kjøllefjord wind farm in Lebesby. Construction will begin at once. When completed next autumn the facility will be Statkraft's first wind farm in Finnmark. It will have a total installed effect of up to 40 MW and an annual output of approx. 155 GWh - enough to supply some 6,000 households with electricity.
(Oslo, 18 August 2005) The Statkraft Group's second quarter results were boosted by continued high levels of electricity production, substantial revenues from financial power sales, and a reduction in financial expenses, but were cut back slightly by non-recurring costs charged during the period. Pretax profit for the second quarter was NOK 1,554 m (NOK 511 m), while net profit was NOK 891 m (NOK 334 m). Pretax profit for the first half year as a whole was NOK 4,026 m (NOK 2,633 m), while net profit was NOK 2,630 m (NOK 1,825 m).
Pretax profit before tax NOK 1,576 m. Net profit NOK 1,135 m in the 2nd quarter 2005, up NOK 1,020 m and NOK 765 m respectively compared with the same period last year.
(Oslo, 1 July 2005) Statkraft and Sydkraft, the Swedish energy group, have today signed an agreement whereby Statkraft will acquire 24 hydropower plants in Sweden and Finland with an average annual production of approximately 1.6 TWh.
(Oslo, 27 June 2005) Statkraft has decided to build and operate a large, modern gas-fired power plant in Knapsack, outside Cologne, Germany. The new plant will give a considerable boost to the Statkraft Group’s own, flexible power production in Continental Europe. The Knapsack facility is the second gas-fired power plant that Statkraft is planning in Germany. It will strengthen the group’s international power trading activities and establish Statkraft as a power producer also outside Scandinavia.
CEO Gunn Wærsted and consultant Olav Fjell were elected to the board of directors of Statkraft SF and Statkraft AS at an ordinary corporate meeting of Statkraft SF. They will be replacing Rebecca Selvik and Erik Nygaard, who are resigning from the board.
Plans for a Norwegian hydrogen research and demonstration centre in Trondheim have been drawn up by power generator Statkraft, oil company Statoil and classification society Det Norske Veritas. Representing a powerful alliance with strong specialist teams, these partners aim to develop environment-friendly, profitable and safe solutions for hydrogen production.
(Oslo, 27 May 2005) Statkraft and the German energy company Mark-E will build a new and modern gas-fired power plant (CCGT) in Herdecke, Germany. This investment will give Statkraft access to flexible electricity production in continental Europe, which will strengthen the group's power trading activities.
(Oslo, 11 May 2005) The Statkraft Group's first quarter income was boosted by high levels of electricity production. In addition, revenues from financial power hedging were substantial and financial costs were reduced. The major costs incurred by the associated company Sydkraft following a hurricane in southern Sweden did, however, pull down the group's overall financial result slightly. Statkraft achieved a pre-tax income of NOK 2,472 million (NOK 2,124 million), and a net income of NOK 1,739 million (NOK 1,493 million) in the first quarter 2005.
On 21st April 2005 Statkraft and Corobrik signed a long-term agreement whereby Statkraft will acquire all CERs (Certified Emission Reductions) that will be generated from a fuel switch project at Corobrik’s Lawley brick factory in the province of Gauteng, South Africa. The fuel switch from coal to gas is expected to lead to a reduction of 400,000 tons of greenhouse gas emissions over a period of 10 year. Parties anticipate that this CDM (Clean Development Mechanism) project will be registered before the end of this year.
(Oslo, 17 February 2005) Significant capital gains had a positive effect on the Statkraft Group's fourth-quarter income. The preliminary pre-tax income for the year after adjusting for non-recurring items was NOK 4,039 million (NOK 4,754 million) and the net income was NOK 3,354 million. The improvement in the net income is attributed primarily to the reversal of tax provisions made in earlier years.
(Oslo, 25 January 2005) Statkraft and the energy company Mark-E have agreed to jointly explore the possibility to build a gas-fired power plant close to Dortmund in Germany.
Statkraft establishes new business areas: Focus on increased profitability and environmentally friendly energy
(Oslo, 13 January 2005) - Statkraft's focus is to increase added value and the development of environmentally friendly energy production. To improve ourselves, we have now organised the company into three business areas, says Chief Executive Officer Bård Mikkelsen at Pareto's Energy Conference in Oslo today.
(Oslo, 7 January 2005) Statkraft has today appointed two new executive vice presidents. Eli Skrøvset is to be the new executive vice president responsible for finance (CFO), while Stein Dale will be the executive vice president responsible for strategy and M & A. They will take up their appointments by 1 April in connection with the fact that the current CFO, Christian Rynning-Tønnesen, is to take up an equivalent appointment with Norske Skog.