Press release
Initially Statkraft Financial Energy AB will be staffed with four persons. Key areas of focus will be electricity trading and portfolio management services, for which the company has been awarded licences from the Swedish Finansinspektionen.
Products on offer will include financial electricity contracts in Sweden and Finland, quoted in local currencies, as well as portfolio management services to utilities and industrials.
Statkraft has acquired Statkraft Financial Energy AB in order to strengthen its trading activities in the Nordic power market. ABB's sale of Financial Energy is part of the company's strategy to focus on core areas of power and automation technology.
Statkraft is Norway's largest producer of hydropower. The company's production exceeds 42 TWh annually, about 1/3 of Norway's hydropower production.
The Statkraft group has approx 2,400 employees, including the power companies Skagerak Energi, Trondheim Energiverk and Statkraft Grøner. The company is Norway's largest onshore taxpayer. Further on Statkraft has ownership interests in the Norwegian power companies BKK, Agder Energi and Fjordkraft. The Statkraftalliance is number three in the Nordic production market and number two in the Norwegian end consumer market.
ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. The ABB Group of companies operates in more than 100 countries and employs about 139,000 people.