Statkraft to sell minority shareholding in Sri Lankan hydro assets

21 Dec, 2015

Statkraft has entered an agreement to sell its 30 percent holding in Sri Lanka company Nividhu (Pvt.) Ltd. to other shareholders in the company.

Nividhu Ltd owns the two small-scale hydropower plants Belihuloya and Assupiniella with a total capacity of 6.2 MW. The average annual output is 25 GWh.

«The present position in Sri Lanka is of subcritical size and Statkraft has presently no growth ambitions in the country.Therefore we have decided to exit Sri Lanka by accepting the bid from our JV partners» says EVP International Hydropower, Asbjørn Grundt.

Going forward, focus in South-Asia will be India and Nepal, where Statkraft has three power plants in operation with a total capacity of 360 MW, of which Statkraft’s share is 142 MW.

Closing of the transaction is expected to take place by February 2016.