November 13, 2008

Statkraft to Purchase Remaining Interest in Blaengwen Wind Farm Operator

Norwegian state-owned electricity company Statkraft has decided to purchase all the remaining shares in Catamount Cymru Cyf, the company which owns the rights to build and operate the Blaengwen wind farm in Wales.

The purchase is part of Statkraft's wind power focus in Europe. The Blaengwen wind farm, which is under construction, is expected to provide clean electricity to 16,000 UK households.

Statkraft already owns half of the shares in Catamount Cymru Cyf, and will now acquire the remaining half from Catamount Energy, a Duke Energy company.

The project developed by Catamount Cymru Cyf and its joint venture partner Force 9 Energy, was granted consent to construct the Blaengwen wind farm in March 2007.

The wind farm is located to the north of the town of Carmarthen in southwest Wales and will have a total of 10 wind turbines with a combined installed capacity of 23MW. The expected annual production is around 65GWh, enough to supply around 16,000 UK households with electricity.

Construction works have started and the wind farm is scheduled to enter into operation in January 2010. Siemens Wind Power has been chosen as turbine supplier, while the contractor Carillion has been awarded the construction contract.

Eivind Torblaa, Stakraft UK's managing director, said: "Statkraft aims to be a leading wind power player in Europe. The UK enjoys some of the best wind resources in Europe and also has high power prices and favorable framework conditions for renewable energy. The acquisition in Wales is totally in line with our strategy."