Södra and Statkraft in wide-ranging renewable energy cooperation
agreement
(Thomson Reuters ONE) - (27 August 2009) The Swedish forestry and timber product companySödra and the Norwegian energy company Statkraft have signed anagreement of intent on renewable energy valued at up to SEK 10billion (Euro 1 billion). The agreement initiates a range ofinvestment projects and cooperative agreements in the energy sector."This is a partnership which will allow us to proceed even morequickly with the development of the renewable energy solutions thatconsumers are calling for. It covers the expansion of wind poweractivities and supplies of district heating, biofuels andelectricity. Through a wide-ranging collaboration with Europe'slargest producer of sustainably generated power, Södra gains apartner who has the same ambitions as we have", says Leif Brodén,President and CEO of Södra."The agreement with Södra is a strategic one for Statkraft because itallows us to develop our activities in a number of areas incooperation with a strong industrial company. Södra has beenfocusing for many years on eco-friendly energy and has resources andexpertise in this area which complement our own. Through thecooperation, Statkraft will also be reinforcing its position asSweden's leading provider of renewable energy", says Jørgen Kildahl,Executive VP at Statkraft.Wind powerStatkraft will become a major partner of Södra through theestablishment of a new jointly owned business for the long-termdevelopment and expansion of wind power on Södra's properties. Theinvestments are to be made in Södra's existing wind power company,Södra Vindkraft AB, in which Statkraft is acquiring a 90% holding.Overall, this comprises a project portfolio with a potential of some300 wind power installations, corresponding to an annual productionof 1.6 TWh, with the option of further expansion. The project timingis in a variety of different phases in terms of when specific projectplans are to be implemented. Completion of the entire portfolio is amulti-year process which is dependent on licensing issues.The option for Södra's members, in conjunction with Södra Vindkraft,to develop new wind power projects on their own properties isreinforced as a result of increased ambitions concerning projectvolumes. The same is true of the potential for Södra members toinvest directly in wind farms.District heatingAn agreement of intent has been signed with the aim of constructingone of Western Sweden's largest infrastructure projects in the shapeof the country's longest waste heat pipe from Väröbacka toKungsbacka. Södra Cell's plant at Värö will supply energy in the formof waste heat via a district heating conduit to Statkraft's districtheating grid at Kungsbacka. From an environmental perspective, thisis clearly a sound way to generate energy for a district heatinggrid. It makes use of energy that would otherwise be lost and therebysaves on both consumption of limited resources and emissions. Theconstruction is estimated to take two years and will createsignificant opportunities for reinforcing Statkraft's position in thedistrict heating market and will further strengthen Södra Cell'scompetitiveness.Initially, the project will involve Värö supplying the equivalent of135 GWh per year of power.BiofuelsAt the same time, the partners have also signed an agreement for thesupply of biofuel from Södra to Statkraft's district heating plantsin Sweden.Electricity suppliesA decision in principle has also been taken concerning electricitysupplies, energy servicing and load balancing from Statkraft to allof Södra's works in Norway, i.e. the paper pulp companies of SödraCell Tofte AS in Tofte and Södra Cell Folla AS at Follafoss and allof the Gapro wood-products units in Norway. Södra's staff in Norwayalso have the opportunity to purchase electricity from Statkraft atthe going market rate.In total, the agreement between Södra and Statkraft comprisespossible investments of more than SEK 10 billion (Euro 1 billion),and is expected to be definitively signed in the autumn of 2009.For more information, please contact:Jørgen Kildahl, Executive Vice President, Statkraft +47 909 86 332Leif Brodén, President and CEO, Södra, +46 705 589 426Gunilla Lundén, Head of Communications, Statkraft Sverige,+46 705 213 116Per Braconier, Director of Corporate Communications, Södra,+46 705 345 166Statkraft is Europe's largest renewable energy company. The Groupdevelops and generates hydropower, wind power, gas power and districtheating, and is a major player on the European power exchanges.Statkraft also develops marine energy, osmotic power, solar power,and other innovative energy solutions. Through the ownership of othercompanies, Statkraft supplies energy and heating to more than 600,000customers in Norway. In 2008 Statkraft posted gross operatingrevenues of EUR 3.1 billion (NOK 25 billion). The group employs 3,200staff in more than 20 countries.Södra is a group with extensive forestry activities and one of theleading producers of paper pulp, wood products and biofuels. Södra isalso Sweden's largest producer of green electricity. The company,which is owned by 52,000 Southern Swedish forest owners, has 3,700employees and annual turnover of SEK 17 billion.This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 27.08.2009 - 08:28 Uhr
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