(Oslo, 8 January 2009) Norwegian energy group Statkraft AS and German E.ON AG have completed an asset swap, which positions Statkraft as Europe's largest producer of renewable energy. As part of the deal, the Rheidol Power Station in Wales becomes Statkraft's first power plant in the United Kingdom.
- Our new owner has a century of experience with hydropower. We are excited and looking forward to work for a company which is now Europe's largest generator of renewable energy", says Henry Drake, Plant Manager at Rheidol power station.
- Statkraft has high ambitions within renewable power in the United Kingdom. Ownership of the Rheidol hydropower plant in Wales gives us an important foothold in the UK market, says Managing Director of Statkraft UK, Eivind Torblaa.
Statkraft is currently constructing the Blaengwen wind farm in Wales, with a total of 10 wind turbines and an installed capacity of 23 megawatts (MW). In Scotland, the company and its partner GreenPower has received planning consent to construct and operate Carraig Gheal wind farm with a total installed capacity of 60 MW. In addition, Statkraft, together with local partners, has several wind power projects under development in the UK, and is also engaged in development of tidal power in Northern Ireland.
As per 31 December 2008, Statkraft AS and E.ON AG have swapped Statkraft's 44.6 per cent ownership in E.ON Sverige AB and a Swedish hydropower plant in return for power generating assets in Sweden, Germany and the United Kingdom as well as shares in E.ON AG. In addition Statkraft receives a structured gas storage and an electricity supply contract. The total value of the asset swap is EUR 4,495 million.
Statkraft is Europe's largest generator of 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 also develops solar power, marine energy, osmotic power and other innovative energy solutions. In 2007 Statkraft posted gross operating revenues of EUR 2.2 billion and a profit after tax of EUR 827 million. The group employs close to 3,000 staff in more than 20 countries.
For further information, please contact:
Torbjørn Steen, Vice President Communications, tel. +47 911 66 888