Sunnhordland Kraftlag (SKL) has purchased the wind power facility in Fitjar municipality together with Fitjar Kraftlag. The companies are acquiring 95 % and 5 % stakes, respectively, in Midtfjellet Vindkraft from funds managed by the German investment company Aquila Capital.
With this acquisition, SKL’s renewable energy production increases by almost 15 %, from 2.8 to 3.2 terawatt hours (TWh).
“Midtfjellet Vindkraft is a very well-managed facility in terms of quality, safety, and cooperation with local landowners, organizations, and residents. With the wind power from Midtfjellet, we increase our ownership in power production and value creation for our local public owners. Geographically, the facility is as centrally located for SKL as possible, and we have for a long time wanted to buy it. This is a milestone for SKL, the local community, and the region,” says John Martin Mjånes, CEO of SKL.
“Local ownership is important to us. That’s why we’re pleased that Fitjar Kraftlag is increasing its stake in Midtfjellet Vindkraft and that SKL is our partner in this,” says Agnar Aarskog, chairman of Fitjar Kraftlag.
One of Norway’s Best-Managed Wind Power Facilities
Midtfjellet Vindkraft is located in Fitjar municipality in price area NO2. The facility consists of 55 turbines that were commissioned in 2013 and 2018. The total installed capacity is 150 megawatts (MW), and the facility produces about 420 gigawatt hours (GWh) annually. This is roughly the same as the energy consumption of all 60,000 residents in Sunnhordland over the course of a year.
“The facility is a well-operated wind farm. It has three experienced and skilled full-time employees who have ensured high uptime and that the facility has been very well maintained,” says Mjånes.
The area has been made more accessible to the public and is now a popular hiking destination year-round.
“Midtfjellet Vindkraft has also invested significantly in the local community through partnerships with local actors on activities and infrastructure, as well as support for clubs and organizations. This is very positive for the local community, and we will continue this work as before,” says Mjånes.
Erik Mortensen has been the CEO of Midtfjellet Vindkraft since 2013 and will continue in this role.
“Wind power projects depend on responsible owners and investors with a long-term perspective. Aquila Capital, SKL, and Fitjar Kraftlag are all examples of this. We look forward to continuing to produce as much renewable energy as possible at Midtfjellet in collaboration with the local community, landowners, the municipality, and other partners,” says Mortensen.
Increasing Renewable Energy Production – Including from Wind
With the acquisition of Midtfjellet Vindkraft, SKL strengthens its power production and operations.
“SKL is committed to long-term ownership. This acquisition is a major and important step toward our goal of increasing production to 4 TWh. Opinions on wind energy are divided, but we believe there are good projects that provide new energy while taking into account nature, the environment, and local interests. With Midtfjellet Vindkraft, we are building new knowledge that gives us a solid foundation for future growth. We will do this in close collaboration with municipalities, landowners, and other local stakeholders. Norway needs more renewable energy, and we will contribute to that,” says Mjånes.
The acquisition of Midtfjellet Vindkraft is subject to approval by the Norwegian Competition Authority and the Norwegian Water Resources and Energy Directorate (NVE).
The transaction represents a total value for Midtfjellet Vindkraft (100%), excluding debt, of 131.4 million euros.
Contact Information:
- John Martin Mjånes, CEO SKL
Phone: +47 975 56 009, jmm@skl.as
- Agnar Aarskog, Chairman, Fitjar Kraftlag SA
Phone: +47 941 66 095
- For pictures or other information:
Hilde Zwaig Kolstad, Head of Communications, SKL
Phone: +47 48 50 37 12, hilde.zwaig.kolstad@skl.as
About Sunnhordland Kraftlag AS:
- Publicly owned power producer, established in 1946, with 63 employees
- Owners: Haugaland Kraft (59.7%), Eviny (38.2%), and Stord Municipality (2.1%)
- Head office in Stord, with operational departments in Kvinnherad and Etne
- Operates 39 wholly or partly owned hydropower plants, as well as ownership shares in Sima, Ulla Førre, and Saudefaldene
- Annual production in wholly, partly owned, and associated companies is 2.8 TWh
About Fitjar Kraftlag SA:
- Established in 1935 with 8 employees
- Cooperative – 100% owned by members
- Headquarters in Årskog, Fitjar
- Owns and operates fiber networks in Fitjar, has power trading, and hydropower production
- Ownership stake in Haugaland Kraft AS (3.6%) and Midtfjellet Vindkraft AS (increasing from 3.35% to 5%)
