Joint venture formed to exploit opportunity in domestic wind market
1 July 2005
Norwegian energy companies Nord-Trøndelag Elektrisitetsverk (NTE) and Hydro have formed a joint venture to exploit wind power opportunities in the domestic market. The two have created Sarepta Energi AS, which will concentrate on development of wind projects in the Norwegian heartland. Hydro is Norway's second largest energy producer, while NTE is a regional electricity supplier. The new company is a formal extension of an existing partnership between the two, which began last year. Concessions for two projects have already been applied for, NTE's 90 MW plant at Ytre Vikna, which the new entity hopes to extend to 250 MW plant, and Hydro's 90 MW Harbakfjellet project. Both will be now be administered by Sarepta. "We have considerable plans for wind power in the coming years," says NTE's Kolbjørn Almlid. "Hydro, as one of the country's leading industrial companies, has wide international experience and competence in terms of innovation and development. Sarepta Energi gives us great power to follow through our plans."
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