Statkraft had a total production of 19.4 terawatt hours in the first quarter. It is a new record.
We continue to see increased production from our international assets contributing with stable revenues, says CEO Christian Rynning-Tønnesen.
The final score of the first quarter 2016 was a profit of 2.4 billion, down 35 percent from the same quarter last year.
Electricity prices have gone down by 15 percent compared with the same period last year, but the effect of lower prices has been offset by the increase in production of hydropower, explains Statkraft in its quarterly report.
During the quarter, certain Statkraft also to invest in six major wind farms in Mid-Norway with TrønderEnergi and Credit Suisse. Work is already underway, and the wind farms will be finished in 2020.
Source: NTB scanpix / Norway Today