In a statement, DONG Energy said that it is selling its stake in the two companies following a decision to focus on other types of renewable energy production. "Given the current rules and regulations in force in Norway, it is difficult for us to develop our existing hydro assets in Norway. That is the reason why we have resolved to divest these assets, so that we can devote our efforts to our other green operations,” said Anders Eldrup, CEO of DONG Energy.
A substantial part of DONG Energy's investments and capital expenditure planned for 2010-2012 is expected to involve establishing offshore wind farms and otherkinds of renewable energy production.
The company owns 33.33% of the shares in Nordkraft and 23.7% of the shares in Salten Kraftsamband.
Subject to approval from the Ministry of Petroleum and Energy in Norway and other entities, the sale is expected to be finalised this autumn.
