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Skanska to build HPP in Norway as part of USD-45m deal

Author: grendelkhan. License: Creative Commons, Attribution-ShareAlike 2.0 Generic.

November 27 (Renewables Now) - Swedish construction group Skanska AB (STO:SKA-B) said today it will build a small hydropower plant in Norway under a NOK-390-million (USD 45m/EUR 40m) deal with Nord-Trondelag Elektrisitetsverk (NTE).

The contract will see Skanska build the Nya Nedre Fiskumfoss HPP, which will have the capacity to produce some 382 GWh of electricity per year, equal to the annual consumption of about 20,000 homes.

The Swedish group said it expects to begin construction in March 2019, with the goal of completing the facility in August 2022. It noted that the project will pay close attention to the salmon in the area both during construction and after completion.

The company noted that this contract is included in the order bookings for Skanska Nordic in the fourth quarter of 2018.

(NOK 1.0 = USD 0.116/EUR 0.103)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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