Statkraft seeks to reduce stakes in its Swedish wind energy farms

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Statkraft seeks to reduce stakes in its Swedish wind energy farms

March 7, 2019 Anand Gupta

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Reuters reported that Norway’s Statkraft, a major European producer of renewable energy, is seeking to reduce its stakes in four fully-owned Swedish wind farms to 51 percent and would invest in new projects in the country. The chief executive said that selling some of its ownership in the wind farms, whose production capacity totals about 500 megawatts (MW), will help finance new investments.

Mr Christian Rynning-Toennesen told an audience of investors at an energy conference said that “We are planning to sell 49 percent in our Swedish wind (farms) in not too long and there are other opportunities coming from us.”

Statkraft plans to sell the stakes as a package “within a few years”, Rynning-Toennesen later told Reuters, without elaborating further on the timing.

He said that “As a philosophy, we have a plan to sell down after construction, but there are no other countries at the moment where we have something ready to be sold. Sweden will be the first big one.” He added that the company is also planning to invest in two “medium-sized” new wind projects in Sweden.