Statkraft signs leniency agreement in Brazil

Statkraft has zero tolerance for any type of corruption or fraud. In the wake of grand corruption probes in Brazil, including “Lava Jato”, Statkraft carried out internal investigations into Desenvix in 2015-16 and voluntarily reported its findings to Brazilian authorities in 2016, as disclosed in our financial reporting and in the media.

Today, Statkraft Energias Renováveis signed a leniency agreement with the Federal Comptroller General (CGU) and the Federal Attorney General (AGU). As part of the agreement, the company admits that prior to Statkraft taking over the control of Desenvix Energias Renováveis S.A. in 2015, Desenvix made illegal payments to speed up public entity approvals in 2011-2014.

The company has agreed to make a payment of MBRL 18.0 (ca. NOK 28 million) in connection with fines and redress of improper advantages, adjusted by inflation, on the basis of Brazilian anti-corruption laws. Statkraft has made all relevant information, documents and other elements related to misconduct discovered in its internal investigation available to the authorities.

After taking control of the company in July 2015, Statkraft immediately removed former key executives in Desenvix from their positions and has since done everything in its power to uncover any wrongdoing that may have occurred in the past. Statkraft has also implemented its corporate Compliance Program comprised of strict standards, routines and guidelines on anti-corruption and broader business ethics topics. The implementation of the program is regularly reviewed and continuously updated and strengthened.

Statkraft underscores its commitment to act in ethical, transparent, and responsible manner, complying with all applicable legal requirements in countries in which it has operations.

Statkraft is not able to provide further details of the case due to confidentiality undertakings with Brazilian authorities.