Statkraft and Eviny Transition Ownership of Himal Power Ltd
Strategic Ownership Transition in Hydropower Sector
Statkraft and Eviny, two prominent players in the renewable energy sector, have made a significant move by signing an agreement to sell their shares in Himal Power Limited (HPL) to Butwal Power Company (BPC). With these changes, BPC will now hold 100 percent of HPL, marking a new chapter for the company.
About Himal Power Limited
HPL has been a vital part of Nepal’s energy landscape by operating the 60 MW Khimti I Hydropower Plant since 2000. This project is particularly notable as it was Statkraft's very first venture into hydropower outside of Norway, demonstrating their commitment to international expansion and regional energy development.
Impact on Nepalese Energy System
The Khimti plant has played a crucial role in the Nepalese energy system for over 25 years, delivering more than 9,000 GWh of energy, with a commendable operational track record and exceptional availability. Tima Iyer Utne, Chair of the HPL Board from Statkraft, expressed pride in the contribution of the Khimti plant to the energy landscape of Nepal and emphasized the importance of the workforce in ensuring its successful operation moving forward.
Future Directions for Statkraft
This sale aligns with Statkraft's strategic move to shift focus away from South Asia and concentrate on core markets in Europe and South America. This decision is reflective of a broader trend within the energy sector, where companies are increasingly seeking to optimize their portfolios for maximum efficiency and profitability.
Commitment to Renewable Energy
Statkraft is recognized as Europe's largest generator of renewable energy, involved in the production of hydropower, wind power, solar energy, gas-fired electricity, and district heating services. With around 7,000 employees across more than 20 countries, Statkraft's expertise and commitment to sustainable practices continue to drive its success in the ever-evolving energy market.
Conclusion of the Sale
The agreement signifies BPC's ongoing commitment to ensuring the effective operation of HPL while recognizing the competency of the existing workforce. This smooth transition is essential to maintaining the plant's high standards. Through this sale, Statkraft and Eviny are excited about the positive impact this strategic move will have in the region’s energy future.
Frequently Asked Questions
What is the main purpose of the sale of Himal Power Limited?
The sale allows Statkraft and Eviny to focus on key markets in Europe and South America, while ensuring continued operation and success of the hydropower plant under Butwal Power Company.
What is the significance of the Khimti I Hydropower Plant?
The Khimti I Hydropower Plant has contributed over 9,000 GWh of energy to Nepal’s power grid since it began operations, demonstrating its importance to the local energy infrastructure.
Who now owns Himal Power Limited?
Butwal Power Company acquired full ownership of Himal Power Limited, taking over the shares previously held by Statkraft and Eviny.
How does this sale affect Statkraft's future operations?
This strategic move allows Statkraft to concentrate resources and efforts on expanding its footprint in Europe and South America while stepping back from South Asian markets.
How can I contact Statkraft for more information?
For inquiries, you can reach Marte Lerberg Kopstad, the International Media Relations Lead at Statkraft, via telephone at +47 995 22 026 or through email at martelerberg.kopstad@statkraft.com.
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