2013-03-20 09:02:55 -
(Oslo/Vienna, 20 March 2013) Yesterday, Norwegian Statkraft AS and Austrian EVN
AG signed an agreement by which Statkraft will acquire EVN's 50 percent stake in
Devoll Hydropower ShA. The transaction is subject to the consent of the Ministry
of Economy, Trade and Energy of Albania (METE), as well as ratification by the
Parliament of the Republic of Albania in order to amend the concession agreement
The Devoll hydropower project in Albania, has been through different stages of
development since the concession agreement was ratified by the Albanian
parliament in 2009. Tendering of the main construction contracts is currently
ongoing, and the process to obtain all relevant permits and approvals from
Albanian authorities is close to completion.
The transaction makes Statkraft the 100 percent owner of Devoll Hydropower ShA,
and Statkraft will
remain fully committed to the Devoll project. EVN will remain
active in Albania through the Astha project with Verbund AG.
"We regard Albania as an interesting country for hydropower investments, and we
are pleased to have reached an agreement with EVN for the acquisition of their
shares. We look forward to realizing the Devoll project, which will increase the
generation of electricity in Albania by 20 percent." says EVP International
Hydropower in Statkraft, Øistein Andresen.
About the project:
The Devoll hydropower project consists of 3 hydropower stations in the Devoll
valley, with a total installed capacity of 278 MW. The annual output is
estimated to approximately 800 GWh, increasing the power production in Albania
by 20 percent. The build, own, operate and transfer (BOOT) concession agreement
was ratified by the Albanian parliament in 2009.
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 3,500 employees in more
than 20 countries.
EVN AG is a leading international energy and environmental services company that
generated a turnover of 2.8 billion Euro in the fiscal year 2011/12. On the
basis of a state-of-the art infrastructure, EVN offers its customers
electricity, gas, heat, waste incineration and related services from a single
supplier, as well as electricity produced from renewable (water, wind, biomass,
photovoltaic) and conventional (gas, coal) energy carriers. With its portfolio
of services, the company safeguards and improves the quality of life for more
than 15 million people in 21 European countries. In addition to its role in
Austria, EVN successfully operates in Bulgaria, Macedonia, Croatia and Albania
and supplies a total of 3.5 million households with electricity, gas and heat.
For further information:
Lars Magnus Günther, Communications advisor, Statkraft AS
Phone +47 24 06 71 50 Mobile +47 91 24 16 36
Mag. Stefan Zach, Head of Corporate Communications, EVN Group
Phone: +43 2236 200-122 94 Mobile: +43 676 810 322 94
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Source: Statkraft via Thomson Reuters ONE