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STATKRAFT gains NOK $4B 4th Quarter Profits

Statkraft oil industry clean energyWind Power. Photo: Statkraft

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WIND-FARM SALE BRINGS BILLIONS of KRONER

 

With a $4bn increase over 2017 capital figures, Statkraft announced that sale of offshore wind farms dramatically increased 4th quarter pretax profits.

A recent Statkraft liquidation of a 40% percent stake in Sheringham Shoal offshore
wind farm generated NOK $3bn in capital with other schemes generating NOK $1.2 bn.

The Sheringham sale complimented Statkraft’s strategy of not investing in new offshore wind projects and to sell interest in existing offshore wind farms.

Statkraft pretax profits 4th quarter ended at NOK $6.8bn compared to 2017’s  4th quarter $2.5bn, a total increase of $4.2bn for the company.

CEO PLEASED
CEO Cristian Rynning-Tønnesen states “We’re very pleased with these figures, the best financial results for Statkraft since 2008. These figures illustrate (our) solid underlying operations and also reflects successful transactions.’

FORECAST SOLID FUTURE GROWTH
‘(We forecast) the sale of offshore wind operations and our long-term yield model will result in improved company financial capacity. We have a solid foundation under us for building further growth in renewable energy.’

Statkraft’s pre-tax profit for the whole of 2017 was NOK $15.69bn,an increase of $10.4bn over Statkraft’s 2016 pretax profits.

 

© NTB Scanpix / #Norway Today

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