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Statkraft invests in EV charging network operator Grønn Kontakt

06 okt., 2016

Statkraft increases its ownership in the electric vehicle (EV) charging station operator Grønn Kontakt through an equity increase.

The equity increase comes as Statkraft and Agder Energi establish a new owner partnership in which the two companies become partners with equal shareholdings of 41 percent.

Agder Energi has until now been the majority owner of Grønn Kontakt.

Growing market

Norway has the world's highest share of electric vehicles in the car fleet and has done more for electrification of the transportation sector than other countries. Nearly 30 percent of new car sales in Norway are electric cars or rechargeable hybrids.

"With the position of Grønn Kontakt in the Norwegian market, we have a unique position to participate in this growing market. Electrification of the transport sector is in Statkraft's interest and infrastructure is a relevant segment for us. New capital will enable the company to accelerate its growth strategy," explains Bjørn Holsen in Statkraft's corporate strategy department.

Supermarkets and gas stations

Grønn Kontakt has set an ambitious target which involves building 240 new charging points in Norway by the end of 2018. At present, Grønn Kontakt operates about 85 charging points on 70 locations.

During the last few months, new agreements have been signed with gas station chain Circle K and supermarket chain Coop to establish charging stations at several of their locations.

Earlier this month, Grønn Kontakt won the tender from Norwegian government enterprise Enova to build new quick-charge stations in Western Norway. Grønn Kontakt will build charging stations in the following locations: RV5 Lærdal-Florø, RV15 Otta-Måløy, E136 Dombås-Ålesund and RV70 Oppdal-Kristiansund.

Second largest operator

Statkraft was one of the initiators when Grønn Kontakt was established in 2009. So far, Grønn Kontakt primarily has been an operator on behalf of regional power companies. Grønn Kontakt is currently Norway's second largest charging station operator, behind Finnish energy company Fortum.

Besides Statkraft and Agder Energi, there are 21 smaller shareholders in Grønn Kontakt.