Norwegian hydropower firms seek expansion abroad

Nine hydropower producers in Norway have banded together to seek opportunities to invest in power generation abroad, the companies said.

The companies formed a commission to report within the first half of 2008 on strategic opportunities, interesting geographical areas, investment, and risk conditions in the sector abroad, one partner, Akershus Energi AS, said in a statement July 4.

“If the conditions are in place for further investment, the companies intend to engage in hydropower outside Norway as shareholders in a joint company,” it said.

The other participating companies are regional utilities BKK, E-CO Energi, EB, Eidsiva Energi, Lyse, Nord-Troendelag Elektrisitetsverk, Troenderenergi, and Oestfold Energi, it said.

Endowed with many rivers and waterfalls, Norway is the world’s sixth-biggest hydropower producer and has the world’s highest per capita hydropower output. About 99 percent of the country’s power production comes from hydroelectric stations.

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