Statkraft: Expanded power plant opened in Laos

(Ban Nahin/Oslo, 11 January 2013) Laotian utility company Theun Hinboun Power Company (THPC), where Statkraft owns 20 per cent, opened two new power stations in Laos today.  The two new power stations will, like the existing power plant, be operated and maintained by Statkraft. "The expansion project in Laos is a very good example of how we can exploit large, renewable hydropower resources in combination with sustainable solutions. With this new power plant, Norwegian hydropower expertise contributes to profitable, environmentally friendly and sustainable investments internationally," says President and CEO Christian Rynning-Tønnesen of Statkraft, who was present during the opening ceremony in Laos. Today's ceremony marked the opening of two new power plants, a new dam and a new power line with a total cost of about USD 650 million. The expansion will double the production of renewable energy to 3 TWh annually. The new dam makes it possible to store large volumes of water from the rain period for power generation in dry periods. At the same time, the construction has caused some 13 000 people to be relocated or resettled in new villages established by the project. Both the construction and moving processes have been carried out in accordance with applicable international standards for sustainable energy investments and makes a positive contribution to social development, welfare and economy. Statkraft owns 20 per cent of THPC, while the Laotian energy company EDL Generation owns 60 per cent and Thai-based GMS Power owns 20 per cent. The majority of the power is exported under long-term contracts through own power lines to Thailand, while a smaller share is distributed through the local Laotian grid. Statkraft is Europe's leader in renewable energy. The Group develops and generates hydropower, wind power, gas power and district heating, and is a major player on the European energy exchanges. Statkraft has more than 3,200 employees in more than 20 countries. For further information: Spokesman Knut Fjerdingstad, Statkraft AS +47 901 86 310  Communications advisor Lars Magnus Günther, international hydropower +47 91 24 16 36 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Statkraft via Thomson Reuters ONE [HUG#1669510]