Statkraft to build onshore wind farms in Sweden and Scotland

(Oslo/Stockholm/London, 16 June 2011) Statkraft has decided to construct Mörttjärnberget Wind Farm in Sweden and Baillie Wind Farm in Scotland, both to be completed in 2013. This strengthens Statkraft's position as the European leader in renewable energy and contributes to combating climate change. Both wind farms will be built and operated in cooperation with local partners. Statkraft's total investment is expected to amount to approximately EUR 250 million.

The wind farms will have a combined average annual generation of approximately 450 GWh.

"We are very pleased with the decision to invest in these projects, delivering growth within a key strategic focus area. In addition, land-based wind power is environmentally sustainable and contributes in the transition to a low-carbon future energy supply", says Christian Rynning-Tønnesen, President and CEO of Statkraft.

Mörttjärnberget Wind Farm

Mörttjärnberget Wind Farm will be situated in the Bräcke municipality in Jämtland County, southeast of Östersund in mid/northern Sweden. The consent allows for a maximum installed capacity of 100 MW. The farm will be built and operated by the project company Statkraft SCA Vind AB, and is the first project in the company's portfolio to be realized. The company is owned 60 per cent by Statkraft and 40 per cent by Svenska Cellulosa Aktiebolaget SCA.

Baillie Wind Farm

Baillie Wind Farm, situated in Caithness region in the north of Scotland, will be built and operated by Baillie Wind Farm Ltd, where Statkraft has an 80 per cent ownership. The consent allows 21 wind turbines, and a maximum capacity of 52.5 MW.

More wind power planned

Statkraft already owns and operates three wind farms in Norway, one in Sweden and one in Wales. The company has a number of wind power projects under development in Norway, Sweden and in the UK. In partnership with Statoil, Statkraft is in the process of constructing the 317 MW Sheringham Shoal offshore wind farm off the English coast, and has been granted a license to develop Europe's largest offshore wind zone Dogger Bank (9 GW) as a part of the Forewind consortium.

Statkraft is Europe's leader in renewable energy. The group develops and generates hydropower, wind power, gas power and district heating, and is a major player on the European energy exchanges. Statkraft has 3 300 employees in more than 20 countries.

Torbjørn Steen, VP Communications, Wind Power & Technologies, Statkraft AS
tel.: +47 24 06 72 28 / +47 911 66 888

Yngve Frøshaug, VP Investor Relations, Statkraft AS
tel.: +47 24 06 78 76 / +47 90 02 30 21

   
www.statkraft.com

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)