EnergyWatch

Statkraft drops ten Swedish wind projects

The utility has relinquished an investment of up to SEK 10 billion by withdrawing from projects totalling close to 373 MW.

Photo: Statkraft

Statkraft Södra Vindkraft has opted to cancel 10 out of 11 projects in its portfolio, adding up to a potential capacity of 373 MW. The project developer is 90.1-percent owned by Norwegian utility Statkraft and says the withdrawal is due to lack of profitability, according to a statement from Statkraft.

"Our analyses shows a continued increasing supply of electricity and electricity certificates on the Nordic power market with low prices on both electricity and electricity certificates. Our assessment of the development has led to the conclusion that profitability of the projects is insufficient to continue to operate them," writes the company.

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