Statkraft halts two onshore wind power projects in Norway
Statkraft has decided not to invest in the Fosen and Snillfjord projects in Central Norway.
Lower power and electricity certificate prices in the Nordic region have made the projects unprofitable.
President and CEO Christian Rynning-Tønnesen has stated:
“Unfortunately, the market development is such that it is still not commercially responsible to invest in these projects”.
The wind power projects in Central Norway were planned with a total installed capacity of 1000 MW and an annual production of approx. 3.25 TWh. The development costs were estimated at approx. NOK 11 billion (US$ 1.4 billion). The projects are owned by Statkraft, Agder Energi, TrønderEnergi and Nord-Trøndelag Elektrisitetsverk (NTE).
Statkraft will continue to make substantial investments in Norwegian hydropower, as well as further development of district heating. Over the longer term, wind power is also expected to become competitive in the Nordic region.
Country news
-
-
June 17, 2015
Statoil elects chair and deputy chair of board of directors
Statoil has elected Øystein Løseth as new chair and Roy Franklin as a new member and deputy chair of Statoil's board of directors. Read more -
July 06, 2015
SL Capital Partners creates long-term partnership with Nordkraft and acquires 13 small hydro plants in Norway
SL Capital Partners LLP, through SL Capital Infrastructure I LP (SLCI I), has acquired 100% of Nordic Power AS from Nordkraft AS, the Narvik based energy group with interests in Northern Norway. Read more -
July 16, 2015
NSN Link awards €1.5 billion contracts
NSN Link has contracted with two cable suppliers, Prysmian and Nexans, to deliver the cable needed for the 740 kilometre route length. Read more -
July 17, 2015
WSP acquires Nordic infrastructure & energy firm
WSP Global has announced the acquisition of Faveo Group, a project management company based in Norway and Sweden. Read more -
September 02, 2015
EQT Infrastructure II Fund acquires Mongstad Supply Base
The EQT Infrastructure II Fund has acquired Mongstad Supply Base, a oil and gas port in Norway, from Wimoh Invest AS. Read more
