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Statkraft wants more power

Statkraft, the state-owned power company, has asked state authorities to chip in almost half the cash necessary to buy USD 5.4 billion (NOK 50 billion) worth of hydropower generation capacity around the country and abroad by 2007.

Currently the Norwegian electricity scene is marked by many producers, most of them municipally owned. If Statkraft were to succeed with its plans it would generate power equal to half of today's total national production. Statkraft chief Lars Uno Thulin said such centralisation would improve margins and facilitate the export of Norwegian hydropower in years of excess capacity.