“I am happy that we have agreed on terms for the repurchase of Bardufoss power plant. The next step will be clarifying the competition-law issues and then implementing the enterprise transfers in accordance with the Working Environment Act,” says executive vice president Asbjørn Grundt.

The lease agreement Troms Kraft had in connection with the waterfall rights in Bardufoss expired on 1 May 2010. Statkraft and Troms Kraft disagreed on the rights upon expiry of the agreement, and in September a ruling from the court of arbitration concluded that the lease agreement had expired and that Statkraft had a right to repurchase the power plant. The power plant is the lowest in the Barduelven river and produces about 225 GWh/year. Statkraft owns and operates the other power plants in the Barduelven river, Innset and Straumsmo.

Statkraft and Troms Kraft have also came to terms on an agreement relating to the waterfall rights in the Guolasjåkka river in the Kåfjordvass river system, which Troms Kraft leases from Statkraft. Statkraft commits to either selling the waterfall rights in Guolasjåkka to Troms Kraft or receiving a lump sum as future lease in 2021.

Statkraft and Troms Kraft have entered into an interim agreement ensuring the operation of Bardufoss power plant until the competition-law issues have been clarified.