Hydro and Statkraft to Build Gas-Fired Power Plant at Karsto

Hydro and Statkraft to Build Gas-Fired Power Plant at Karsto



OSLO, Norway, Sept. 22  /PRNewswire-FirstCall/ -- Statkraft SF and Norsk Hydro
ASA, the owners of Naturkraft AS, have agreed to proceed and realize their
plans to build a gas-fired power plant at Karsto.

The intended plant will be based on the best available technology with regard
to the environment, safety and efficiency. The new gas-fired plant will be the
most modern and environmentally-friendly in Europe.

Karsto is a very suitable location for a profitable, Norwegian gas-fired power
plant. The plan is to construct a plant with a production capacity of roughly
400 MW, which at full capacity utilization will represent an annual production
of some 3 TWh. This will provide an increase in Norwegian electricity supplies
of approximately 2.5 percent.

Gas-fired power will boost the Norwegian energy balance and help reduce the
need for imported power. The project will therefore help reduce overall
emissions of greenhouse gases.

Design work will commence and invitations to tender be sent out immediately
with a view to adopting the final investment resolution by summer 2005, so that
the plant can come on stream in 2007.

The total investment amount for the project is estimated to be somewhat more
than NOK 2 billion. Some 500 to 600 persons will be involved in the
construction phase. Once operative, the plant will employ around 30 people.

The authorities licensed Naturkraft in 1997 to build a gas-fired power plant at
Karsto.

   Contact   Idar Eikrem             Tor Steinum
   Telephone [phone]       ([phone]
   Cellular  ([phone]       ([phone]
   E-mail       

DATASOURCE: Norsk Hydro ASA



CONTACT: Idar Eikrem, [phone], cell, [phone],

, or Tor Steinum, [phone], cell, [phone],

, both of Norsk Hydro ASA



Web site: http://www.hydro.com/ 

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