Statkraft focuses growth strategy
(Thomson Reuters ONE) -
(Oslo, 18 June 2010) Statkraft is focusing its strategy to strengthen emphasis
on the group's core competence within flexible and renewable energy generation.
Hilde Bakken, Steinar Bysveen and Øistein Andresen are new members of the
corporate management team.
"Statkraft's ambition is to be the leading renewable energy company in Europe,
and a driving force for renewable energy in Norway. We aim to grow in flexible
power generation and in growing markets for renewable energy both at home and
abroad. Following a strategic review, we have found it necessary to focus our
strategy and reduce our investment plans. We still need a positive clarification
on capital and dividend policies going forward, but these measures underline the
group's ability to continuously adapt our plans to maintain a satisfactory
credit rating," President and CEO Christian Rynning-Tønnesen says.
Three main areas for growth
Based on a comprehensive review of Statkraft's competitive advantages, market
opportunities and synergies within the group, the following areas of growth are
prioritised:
* Flexible power generation and market operations in Norway and the rest of
Western Europe
* International hydropower
* Wind energy in Norway, Sweden and the UK
These prioritised areas will continue to build on Statkraft's core competence in
renewable and flexible power generation. Statkraft will continue its focus on
flexible power generation in Western Europe through hydropower and gas power.
The international hydropower development will continue to focus on emerging
markets with an increasing need for clean energy and a great potential for
hydropower development including, in part, southeast Europe as well as markets
outside Europe through SN Power. Continued wind power development will be
focused on onshore wind power in Norway and Sweden, as well as offshore wind
power in the UK. Growth in district heating will be focused in Norway. Statkraft
will continue to be a key supplier of power to Norwegian industries.
This means that the group will sell its solar power business, and that
investment plans for wind power and district heating will be scaled back
compared with previous plans. Statkraft is currently involved in talks with the
other owners of the utility company BKK, which could result in Statkraft
reducing its ownership interest in that company. The sale of the electricity
grid company in Trondheim will be carried out according to plan.
Changes in the corporate management team
Statkraft's corporate management team now comprises:
* Christian Rynning-Tønnesen, President and CEO
* Stein Dale, Chief Financial Officer
* Hilde Bakken, Chief of Staff
* Asbjørn Grundt, Executive Vice President, Market Operations and IT
* Steinar Bysveen, Executive Vice President, Generation and Industrial
Ownership
* Øistein Andresen, Executive Vice President, International Hydro Power
* Jon Brandsar, Executive Vice President, Wind Power and Technology
Steinar Bysveen and Øistein Andresen will take up their positions upon further
agreement.
"I'm very pleased with the composition of the new corporate management team,
which also reflects a new organisational structure. Hilde Bakken has extensive
experience from Statkraft. She has been in charge of a highly successful
integration of the enterprises that Statkraft acquired in connection with the
asset swap with E.ON, and she has extensive knowledge of Statkraft's
organisation. Steinar Bysveen, as CEO of Energy Norway, has extensive knowledge
of the Norwegian power industry, and brings solid experience from the energy
industry and good insight into what's happening around the country. Øistein
Andresen has headed SN Power since its establishment, and has developed the
company into an international leader within hydro power in Southeast Asia and
South America," President and CEO Christian Rynning-Tønnesen says.
The new members of Statkraft's corporate management team are:
* Hilde Bakken (age 44) has been appointed Chief of Staff. Bakken holds a
civil engineering degree in petroleum subjects from NTNU (the Norwegian
University of Science and Technology) and has worked in Statkraft since
2000. She has held several management positions in Production and Markets.
She has previously worked in Norsk Hydro's oil and gas division and in
Conoco Inc.
* Steinar Bysveen (age 52) has been appointed Executive Vice President,
Generation and Industrial Ownership. Bysveen holds a civil engineering
degree from NTNU and a degree in business administration from BI Norwegian
School of Management. Since 2003, he has been CEO of Energy Norway. His
previous positions include managing director of Industrikraft Midt-Norge, as
well as various positions in Saga Petroleum.
* Øistein Andresen (age 50) has been appointed Executive Vice President,
International Hydro Power. Since 2002, Andresen has been CEO of SN Power. He
holds a degree in civil and electrical engineering from NTNU and has
previously worked in Akershus Kraftselskap, ABB, and as head of the
Norwegian Ski Association.
Contacts:
Press spokesperson Knut Fjerdingstad, tel. +47
901 86 310,knut.fjerdingstad(at)statkraft.com
Investor Relations Yngve Frøshaug, tel. +47
900 23 021,yngve.froshaug(at)statkraft.com
Statkraft is Europe's largest renewable energy company. The group develops and
generates hydropower, wind power, gas power, solar power and district heating,
and is a major player on the European power exchanges. Statkraft also develops
osmotic power and other innovative energy solutions. In 2009 Statkraft posted
gross operating revenues of EUR 2.9 billion. The group employs 3,400 staff in
more than 20 countries.
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1425190]
Unternehmensinformation / Kurzprofil:
Datum: 18.06.2010 - 09:31 Uhr
Sprache: Deutsch
News-ID 22662
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Town:
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