The assets were legally transferred at the end of last month and the total value of the swap was almost Euro4.5B (US$5.95B).

Under the deal a large number of hydro power plants were transferred to Statkraft. The transfer included 40 plants in Sweden (900MW), 11 in Germany (262MW) and one in the UK (56MW).

The deal also brought the Norwegian utility five district heating plants, two gas-fired plants and a 4.17% stake in E.ON AG.

In return, Statkraft gave its 44.6% stake in E.ON Sverige plus a hydro power plant. The deal gives E.ON full ownership of E.ON Sverige.

The deal was announced in late 2007 and developed over a number of months to be finalised later than expected, in mid-2008, before being completed in December. It makes Statkraft the largest generator of renewable energy in Europe.