Statkraft gets $2.3bn injection to finance renewables portfolio

Norway’s state-owned utility Statkraft has received a $2.28bn cash injection enabling it to fulfill its $13.4bn investment programme.

Trond Giske, the minister of trade and industry, presented the decision on Friday, says the move will enable Statkraft to become one of Europe’s largest producers of renewable energy.

“Statkraft can now realise many projects and strengthen its position in renewable energy,” Giske says. “The company will now be able to do forward-looking investments in hydropower, wind power and district heating.”

Statkraft generated 56.9TWh of electricity in 2009, with gross operating revenues of NKr 25.7bn ($4.18bn).

Statkraft has ambitious expansion plans for renewables both within and outside of Norway, with a focus on wind…

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