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Statkraft AS: Statkraft opens Cheves HPP in Peru

(Oslo/Lima, 15 September 2015) Today, Statkraft opens Cheves hydropower plant
in Peru. The power plant is Statkraft's ninth in the country, and increases
the company's renewable energy generation in Peru to 2,500 GWh per year.

The new hydropower plant is located 130 kilometers north of the capitol Lima,
on the Huaura river. The power station consists of two aggregates with a
total installed capacity of 172 MW and exploits a gross head of 600 meters.
The power plant is the first greenfield project developed and constructed by
Statkraft alone in South-America.

The Cheves hydropower plant started commercial operations in late August, and
will have a annual generation of around 840 GWh based on water from the
Andes. The electricity generated will be sold on a long-term Power Purchase
Agreement (PPA) with 8 local distribution companies.

"The opening of Cheves consolidates Statkraft's position among the largest
power producers in Peru. It also underlines our ambition to further
strengthen our position as a leading international provider of pure energy.
Our efforts in South-America play a very important role in this strategy,"
says EVP International Hydropower, Asbjørn Grundt.

Statkraft has been present in Peru since 2003, first through its subsidiary SN
Power and since June 2014 as Statkraft Peru. Together with the state-owned
investment fund Norfund, Statkraft now owns and operates nine hydropower
plants in the country, with a total capacity of 443 MW and an annual power
production of about 2500 GWh.

Statkraft's investments in Peru are part of the company's focus on
South-America, including development, operation and maintenance of hydropower
and wind power assets in Brazil, Chile and Peru. The business consists of
ownership interests in 20 hydropower plants and two wind farms, an extensive
power trading activity and more than 700 employees in the three countries.

About Statkraft

Statkraft is a leading company in hydropower internationally and Europe's
largest generator of renewable energy. The Group produces hydropower, wind
power, gas-fired power and district heating and is a global player in energy
market operations. Statkraft has 4200 employees in more than 20 countries.

For more information, please contact:

Lars Magnus Günther, Senior advisor communication, Statkraft AS
tel.: +47 91 24 16 36


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Statkraft AS via Globenewswire


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