Statkraft consolidates position as major PPA provider

26.10.2011 08.00 | pressrelease

Statkraft UK is pleased to announce two new Power Purchase Agreements (PPAs) as it increases its market share with PPAs for the Little Raith and Wadlow Wind Farms.

Little Raith Wind Farm, owned by Kennedy Renewables, is located close to Cowdenbeath in Fife, Scotland and when fully constructed will have 9 turbines with an installed capacity of 27MW.
Wadlow Wind Farm, owned by RES and Barclays Infrastructure Funds is located in South Cambridgeshire and will comprise of 13 turbines with an installed capacity of 26MW. Construction is scheduled to be completed in October 2012.

Christian Rynning-Tønnesen, President and CEO of Statkraft outlines the importance of the UK market to Statkraft:
“This latest announcement demonstrates the considerable expansion in our UK business, a sector that we are fully committed to and one which forms a key component of our future growth strategy. I look forward to further announcements as we consolidate our position as a major UK PPA provider”.

Tim Foster from Statkraft explains the continued success of the UK Renewable Energy Origination team, based in London:
“Statkraft is able to provide flexibility and credibility and with strong financial backing makes us the obvious partner for those looking to sign a PPA. In a short space of time, we have proved that we are able to deliver and are now the first port of call for many when a PPA is required”.

Stephen Klein, CEO of Kennedy Renewables, adds that:
“Statkraft are an excellent PPA partner for Kennedy Renewables on our Little Raith wind farm. They were supportive and straightforward through the challenging financial close phase and offered keen pricing together with the high level of flexibility we were looking for in the PPA.”

Statkraft is Europe’s leader in renewable energy. The group develops and generates hydropower, wind power, gas power and district heating, and is a major player on the European energy exchanges. Statkraft has 3,300 employees in more than 20 countries.

In the UK Statkraft is a significant market player in trading and origination, marketing the power from its own projects as well as from third party renewable projects.

The company owns and operates three hydropower plants and one wind farm in Wales. A wind farm in Scotland is under construction, and Statkraft has a number of other onshore projects under development.

In conjunction with Statoil, Statkraft is in the process of constructing the 317 MW Sheringham Shoal offshore wind farm off the Norfolk coast, and has been granted a license to develop Europe’s largest offshore wind zone on Dogger Bank (9GW) as part of the Forewind Consortium.