Statkraft buys into Swedish wind power company

16.06.2008 08.00 | pressrelease

Statkraft is strengthening its position in wind power in Sweden through its investment in Arise Windpower. Statkraft acquires an ownership interest of 11.8 per cent and gets a seat on the board – which is headed by Pehr G Gyllenhammar.

Arise Windpower AB develops land-based wind power projects in southern Sweden. The company has agreements with land-owners that allow for the construction of around 300 wind turbines and the generation of 2 TWh renewable energy per year.

“Land-based wind power in Sweden is a market with excellent growth potential for Statkraft. Through Arise Windpower we get to participate in new projects under the management of a competent organisation,” says Jon Brandsar, Executive Vice President for wind power in Statkraft.

Brandsar will sit on the board of Arise Windpower – which is chaired by Pehr G. Gyllenhammar.

Statkraft is already cooperating with Swedish SCA to develop seven wind parks in the wooded areas around Östersund, with an annual production potential of 2.8 TWh. The investment is in the order of NOK 14 billion.

“We are continuously in touch with land-owners, project developers and other companies concerning building more wind power projects. We see Sweden as an interesting market in order to reach out objectives in the field of wind power”, states Jon Brandsar.

In Norway, Statkraft owns and operates wind parks at Smøla, Hitra and in Kjøllefjord. The company has a considerable project portfolio under development in Norway, Sweden and Great Britain – with an overall potential of more than 3000 MW (installed capacity).

The Statkraft Group is a leading player in Europe within renewable energy. The Group generates hydropower, wind power, gas power and district heating and is a major player on the European energy exchanges. Through ownership in other companies we deliver electricity and heating to around 600,000 customers in Norway. In 2007, Statkraft earned a profit of NOK 6.6 billion, and has over 2250 employees in 10 countries. The world needs clean energy. That is what Statkraft is working on – every single day.