Statkraft eyes 600MW Norway JV

Norwegian energy groups Statkraft, NTE, Agder Energi, and TrønderEnergi plan to establish a joint venture to develop and operate a trio of wind projects totalling more than 600MW on the coast of the country’s Trøndelag counties.

The parties are in talks to jointly own the Storheia, Kvenndalsfjellet and Roan wind farms, in a move they say will facilitate grid access for a group of licensed onshore wind projects on Fosen.

A positive investment decision for the wind farms will contribute to  Statnett – Norway’s network operator – building a new national grid line from Namsos to Storheia, said Statkraft.

The total needed to progress the three projects is about NKr7bn ($1.16bn) and the parties are aiming for an investment decision during the first half of 2015.

Statkraft will own 50.1% of the new wind power joint venture, with Agder Energi owning 20.9% and NTE and TrønderEnergi with a 14.5% ownership stake each.

The JV company will open for the entry of external investors ahead of an investment decision. The partnership provides the four owners with increased flexibility in terms of assessing their investment level in future wind development, said Statkraft.

Statkraft will be responsible for the engineering, development and operation of the wind farms on behalf of the JV company

Norway’s Ministry of Petroleum and Energy granted licenses for a group of wind farms and power lines in Central Norway in 2013, which combined will facilitate the biggest investments in Norwegian renewable energy production in years, totalling almost NKr20bn.

Sarepta Energi and SAE Vind, the two wind developers that already hold wind licenses on Fosen, will continue to progress the other projects.

Sarepta, jointly owned by TrønderEnergi and NTE, will continue to develop Ytre Vikna 2, Harbaksfjellet, Sørmarkfjellet and Frøya for a total of 436MW.

SAE Vind, owned by Agder Energi and Statkraft, will proceed with efforts to develop Svarthammaren and Geitfjellet in Snillfjord, in addition to the expansion of the Hitra wind farm, for a total of 395MW.