Parliament adopted strengthened equity for Statkraft

26 Nov, 2010

On Wednesday 15 December, the Norwegian parliament, the Storting, decided to strengthen Statkraft’s equity with NOK 14 billion.

“This will be the single largest investment within renewable energy in Norwegian history. I’m very pleased to see that a unanimous committee supports the proposal. It is important to have continuity, a long-term perspective and predictability for a company of this size,” Minister of Trade and Industry, Trond Giske, said when the Storting debated the proposal as part of  a new balancing of the budget. 

The adopted proposal was first presented by the government on 26 November. Statkraft’s chair was very pleased with the proposal:
“The board is very pleased that the government supports the company’s strategy. Increased equity provides the company with the opportunity to strengthen its efforts in Norway and abroad,” chairman of the board Svein Aaser says.

The added equity from the owner enables the realisation of a NOK 82 billion investment plan for the next five years.

“The government’s proposal will strengthen Statkraft’s growth within eco-friendly and flexible energy production, international hydropower, wind energy as well as district heating,” President and CEO Christian Rynning-Tønnesen says.