2013-03-14 08:07:51 -
(Oslo, 14 March 2013)The leased power plants Sauda I-IV, Svelgen I and II as
well as Tysso II are transferred from Statkraft SF to Statkraft Energi AS. The
power plants have a total installed capacity of 620 MW. The transfer takes place
as a contribution in kind and the transaction will be carried out in the first
half of April this year.
During the reorganisation of the Statkraft Group in 2004, the power plants that
were leased to businesses in the power-intensive industry remained in Statkraft
SF. Due to statutory licence provisions, these power plants were not transferred
to Statkraft Energi AS at the time, unlike the other Norwegian hydropower
plants. In the agreements and other documentation relating to the
was assumed that these power plants would be transferred as
soon as licensing statutes permitted.
Following the amendment of the Industrial Licensing Act in 2010, there are no
longer any legal licence-related obstacles to transferring the leased power
plants to Statkraft Energi AS.
"There are major ownership-related and practical advantages in gathering all the
Norwegian power plants formerly owned by the state in Statkraft SF in Statkraft
Energi AS. With this transfer, we are completing the reorganisation of Statkraft
as originally intended," says executive vice president Asbjørn Grundt.
Under the transfer, Statkraft Energi AS takes over all of Statkraft SF's rights
and obligations in connection with the power plants. The transfer will therefore
not have any consequences for the lease agreements, the lessees or the
municipalities in which the power plants are located. Statkraft Energi AS will
take over the newbuilds of the lessees in the power plants at a price agreed in
advance when the lease period expires in 2031. The Ministry of Petroleum and
Energy has granted an exemption from the licence requirements and right of pre-
emption in connection with the transfer.
Statkraft is Europe's leader in renewable energy. The Group develops and
produces hydropower, wind power, gas power and district heating, and is a major
player on the European energy exchanges. Statkraft has 3500 employees in more
than 20 countries.
For additional information:
Executive vice president Asbjørn Grundt, phone: +47 24 06 73 68 / +47 918 40 664
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
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Source: Statkraft via Thomson Reuters ONE