Statkraft says wind keeps rolling

Norwegian power group Statkraft said it bolstered its position in wind power in its financial third quarter.

Statkraft CEO Christian Rynning-Tønnesen said: "Statkraft's position in wind power is strengthened by new production capacity and new licenses.

“ Two new wind farms came online in the quarter, while another five wind farms are under development in Sweden and the UK. The group received several licences for wind farms in Central Norway."

Statkraft achieved a healthy operating profit in the quarter as total power production slipped 2% year-on-year  to 11.2TWh – but Nordic electricity prices leaped by 72%.

Underlying earnings before interest, tax, depreciation and amortisation (Ebitda) were NKr1.87bn ($310m), NKr614m up on the year-ago figure.

But currency factors plunged it to a net loss of NKr1.68bn – Statkraft made a NKr638m profit in Q3 2012.