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Statkraft (OSL:STAEN) (Oslo, 12 November 2008) Statkraft has decided to purchase all the remaining shares in the company Catamount Cymru Cyf, which owns the rights to build and operate Blaengwen wind farm in Wales. The purchase is part of Statkraft's wind power focus in Europe. Blaengwen wind farm - which is under construction - will provide clean electricity to 16,000 UK households.
Statkraft already owns half of the shares in Catamount Cymru Cyf, and will now acquire the remaining half from Catamount Energy Corporation - a Duke Energy Company. The contract was signed Monday in London.
"Statkraft aims to be a leading wind power player in Europe. United Kingdom enjoys some of the best wind resources in Europe. The UK also has high power prices and favourable framework conditions for renewable energy. The acquisition in Wales is totally in line with our strategy," remarked Managing Director Eivind Torblaa at Statkraft UK.
The project developed by Catamount Cymru Cyf and its joint venture partner Force 9 Energy, was granted consent to construct Blaengwen wind farm in March 2007. The wind farm is located to the north of the town of Carmarthen in southwest Wales and will have a total of 10 wind turbines with a combined installed capacity of 23 megawatts (MW). The expected annual production is around 65 GWh - enough to supply around 16,000 UK households with electricity.
Construction works started last week, and the wind farm is scheduled to enter operation in January 2010. Siemens Wind Power has been chosen as turbine supplier, while the contractor Carillion has been awarded the construction contract.
Statkraft has a series of wind farm projects under development in the United Kingdom. Last summer the company was awarded consent for the construction of Carraig Gheal wind farm in Scotland, with a capacity of 60 MW. In Norway Statkraft owns and operates wind farms at Smøla, Hitra and Kjøllefjord, while a significant number of projects are under development.
Statkraft is a leading player in Europe within renewable energy. The Group develops and generates hydropower, wind power, gas power, solar power and district heating and is a major player on the European energy exchanges. In Norway the company supplies electricity and heat to around 600,000 customers through its shareholdings in other companies. In 2007 Statkraft posted a profit after tax of NOK 6.6 billion, and employed around 2,300 employees in ten countries. The world needs pure energy. This is what Statkraft delivers - every day. www.statkraft.com
