Statkraft-led JV starts turbine procurement for 600-MW wind portfolio

Sep 19, 2014 - Four Norwegian utilities led by Statkraft AS have commenced turbine procurement in connection with their plan to build 600 MW of onshore wind parks in the central part of the country.

The companies said so today in a press release unveiling the formation of the joint venture that will construct the wind parks.

As announced in March, Statkraft, Agder Energi, Nord-Trondelag Elektrisitetsverk AS (NTE) and TronderEnergi plan to invest around NOK 7 billion (USD 1.11bn/EUR 860m) in the development of the 220-MW Storheia, 120-MW Kvenndalsfjellet and 260-MW Roan wind farms in the Trondelag region. The parties have now formed a joint company called Fosen Wind, that is controlled by Statkraft through its 50.1% stake. At the same time, Agder Energi holds 20.9%, while each of the other two utilities own 14.5% of the new entity.

Statkraft will be in charge of the engineering, development and operation of the wind power portfolio. The new JV will be ready to welcome external investors ahead of an investment decision, which will be taken next year. The projects are expected to be completed by the end of 2020.

The three wind projects are among nine wind farm proposals on the Trondelag coast that have already secured government approval. In 2013, Norway’s Ministry of Petroleum and Energy issued licences to NOK 20 billion of wind farm and power line projects for central Norway. The construction of the power lines will depend on the realisation of the wind farm projects and vice versa.

(NOK 10 = USD 1.656/EUR 1.202)

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