Hydro and Lyse form Lyse Kraft DA
Published by Sarah Smith,
Assistant Editor
Energy Global,
Hydro and Lyse announced in October 2020 a plan to merge part of their respective hydropower production in southern Norway into a joint hydropower company. The transaction was completed on 31 December 2020.
As part of the transaction, the companies have merged power production assets in the south-west region of Norway through the establishment of a new company, Lyse Kraft DA, which includes Hydro’s hydropower assets Røldal-Suldal Kraft (RSK) and the majority of Lyse’s power production portfolio.
The agreement is based on the framework set out in the Norwegian Waterfall Rights Act.
Lyse Kraft DA has a normal annual power production capacity of 9.5 TWh, of which Hydro owns 25.6% and Lyse 74.4%. As part of the agreement, Hydro remains operator of the RSK assets and is now in addition assuming operatorship for Lyse’s until now fully owned hydropower plants. Lyse will be responsible for market activities and water disposal.
Following the transaction, Hydro has a combined renewables production of 13.6 TWh in a normal year. Based on equity shares, Hydro’s annual power production is 9.4 TWh in a normal year.
For more news and technical articles from the global renewable industry read our latest issue of Energy Global magazine.
Energy Global’s Winter 2020 issue
The Winter issue of Energy Global provides a range of technical articles covering technological advancements and future outlooks in the renewables sector, from companies including CorPower Ocean, Rystad Energy, Black & Veatch, Voltalia, FUERGY, and more.
Read the article online at: https://www.energyglobal.com/other-renewables/04012021/hydro-and-lyse-form-lyse-kraft-da/
You might also like
GHS and BWSC sign collaborative agreement on green hydrogen projects
Green Hydrogen Systems A/S and BWSC have reached an agreement on strategic collaboration to expand their current collaboration on advancing green hydrogen projects.