Statkraft plans hydropower project upgrades in Norway

Norway utility Statkraft will invest more than NOK 1 billion (US$168.48 million) upgrading hydropower facilities and preparing new hydro projects to replace aging plants, the company announced.

Statkraft generates hydropower, wind power, marine energy, solar power and other renewable energy. Last year, the company acquired a stake in Singapore-based tidal power company Atlantis Resources Corp.

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Press release:

Statkraft has decided to spend more than NOK 1 billion upgrading hydropower facilities.

In western Norway, the new power plants Eiriksdal and Makkoren will replace older facilities, while Nedre Rossaga power plant in northern Norway will be modernised.

“These investments will result in more renewable energy, increased security of supply and significant local, regional and national value creation,” says Tron Engebrethsen, Senior Vice President at Statkraft.

Eiriksdal and Makkoren power plants in western Norway will produce around 330 GWh.

The development also involves a number of environmental improvements in the area. These include increased water flow in the river below the power plants, and replacing older power cables with buried cables. The new power plants will be constructed underground. The development is estimated to cost NOK 700 million, and represents substantial opportunities for the local and regional business community.

The upgrade of the Nedre Rossaga in northern Norway is the first stage of a major modernisation of the Rossaga facilities. Three of the units will be upgraded first, followed by modernisation or replacement of the support and control systems. This will cost an estimated NOK 400 million.

Statkraft is also considering an upgrade of the three other units in the power station, or building a new parallel power station to replace them.

Statkraft owns a total of 149 hydropower plants in Norway. The oldest was constructed in the 1920s, while the majority have been in operation since the 1950s and 60s.

The facilities have undergone extensive maintenance investments over the years, and Statkraft spends around NOK 1 billion annually on maintenance. In addition, significant investments are made in upgrades and expansion of the facilities.

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