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No Sarepta windpower development on Ytre Vikna, mid-Norway

December 8, 2006, 09:00 CET

The power utility Nord-Trøndelag Elektrisitetsverk and Hydro, as owners of Sarepta Energi AS, have decided not to proceed with Sarepta's share of the Ytre Vikna windpower development that had been planned for next year. The decision was made on account of the projects lack of profitability.

"We have every intention of realizing our windpower projects and have therefore turned over every stone to see whether we can achieve profitability on Ytre Vikna, but given the current prevailing terms of operation, cost of wind turbines and future power price expectations, it is unfortunately no longer possible," says Ivar Hexeberg, acting head of Hydro’s New Energy unit, and Torbjørn Skjerve, managing director of Nord-Trøndelag Elektrisitetsverk (NTE).

Sarepta’s share of the Ytre Vikna project in Nord-Trøndelag county is roughly 90 MW of installed capacity. NTE and Hydro each own 50 percent of the windpower company Sarepta Energi AS.

"We have previously announced an aggregate revenue base of NOK 0.50 per kWh over 20 years as being necessary for windpower to be profitable. This assessment still holds," explains Hexeberg.