Norway said on Friday that it is willing to let state-owned utility Statkraft be partly privatized by letting it take part in restructuring of the power industry.
“The government is open for Statkraft to take part in further restructuring of the power market through industrial solutions together with other partners,” Minister of Trade and Industry Ansgar Gabrielsen said in a statement. “This could result in a group where the state is no longer the sole owner.”
Statkraft, with annual production of around 42 terawatt hours of electricity and 2003 operating revenues of NOK 12.12 billion (USD 1.75 billion), is one of the Nordic region’s biggest power companies.
It has long been seen as a possible candidate for partial privatization as part of a campaign to cut big state holdings in companies ranging from telecoms firm Telenor to DnB NOR, Norway’s biggest bank.