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Access to green certificates behind Swiss acquisition of Norwegian developer
1 March 2005
Access to Scandinavian green electricity certificates was cited as a motivating factor in the acquisition last year of 35% of Norwegian wind developer Nord Miljökraft by Swiss electricity trading company Elektrizitäts-Gesellshaft Laufenburg (EGL). Nord Miljökraft is concentrating on development of large wind station and has projects in the pipeline for over 1000 MW with a potential to generate up to 3 TWh. "The region offers ideal natural conditions for wind power and the potential combination of wind and hydro power and low population density offers optimal conditions for larger projects," says EGL. The investment in Norwegian wind underpins EGL's growth strategy and its position as a leading European electricity trading company, according to Jacques Piasko, chief trading office at the EGL group. The investment also supports the activities of EGL Nordic, already active in the Scandinavian market. EGL is owned by the Axpo group, an alliance of five Swiss cantonal electricity utilities.
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