Norwegian state-owned power utility Statkraft has signed a deal to buy 24 hydropower plants in Sweden and Finland for approximately SEK 4.5 billion (€500 million).
Statkraft will take over ownership from 1 October 2005. Statkraft will acquire 20 Swedish plants located on the Ångermansälven, Skellefteälven and Gideälven rivers with an average annual production of approximately 1.3 TWh.
A further four plants are located in Finland near Kotka in southeast Finland and west of Tampere on the Kumo and Kymmene rivers with an average annual production of approximately 0.3 TWh.
The acquisition comes from Sydkraft, a majority owned subsidiary of Germany’s E.On.
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