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Statkraft SF: The Norwegian Government proposes increased equity capital

05 Dec, 2014

The Norwegian Government has today proposed to strengthen the equity in Statkraft SF with NOK 10 billion.  

This will be achieved through an equity contribution of NOK 5 billion. The remainder of the strengthening will be realized through reductions in future dividends.  

"We are very pleased with the Government's support for the company's strategy. Increased equity and a reduction in future dividends ensures predictability and underpins future growth within renewable energy", says chairman of the board of directors Olav Fjell.  

Statkraft is the leading power company in Norway and Europe's largest producer of renewable energy. The ambition of the company is to strengthen its position in pure energy internationally.  

"The capital will be invested in hydropower, wind power, district heating and other renewable energy technologies. This will take place in Norway and Europe, as well as in growth markets in Asia and South America", says CEO Christian Rynning-Tønnesen.  

Subject to Parliamentary approval of the proposal, Statkraft SF will use the capital as an equity contribution into Statkraft AS.

Statkraft is a leading company in hydropower internationally and Europe's largest generator of renewable energy. The Group produces hydropower, wind power, gas-fired power and district heating and is a global player in energy market operations. Statkraft has 3600 employees in more than 20 countries.

For additional information:
 
SVP Corporate Communications Bente E. Engesland, tel.: +47 911 59 952, e-mail:bentee.engesland@statkraft.com
 
Press spokesperson Knut Fjerdingstad, tel.: +47 901 86 310, e-mail: knut.fjerdingstad@statkraft.com
 
Head of Investor Relations Thomas Geiran, tel.: +47 905 79 979, e-mail: thomas.geiran@statkraft.com
 
or www.statkraft.com

 
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.