Nordisk Vindkraft Expands into Norway

Nordisk Vindkraft announced today that it has acquired a portfolio of highly promising wind power projects from the Norwegian developer HybridTech. The portfolio comprises five projects located in the counties of Agder and Rogaland, in south-western Norway and has a potential installed capacity up to 500 MW. HybridTech will maintain a minority interest in the wind projects, and will support Nordisk Vindkraft in the further development of the projects.

Arne Lorenzen, CEO, Nordisk Vindkraft said "this is fantastic opportunity for Nordisk Vindkraft to expand into the Norwegian market and the portfolio will serve as a platform for continued growth in Norway. With the recent creation of the joint Swedish-Norwegian green certificate market and the attractive wind regime, Norway is a natural market in which to leverage our extensive experience of the development, financing, construction and operational management of wind projects in Sweden. We look forward to working closely with HybridTech and the local project stakeholders to develop best in class wind farms in Norway."

Dag C. Weberg, Chairman, HybridTech added "Through this transaction, HybridTech joins forces with the leading Nordic wind power developer, which both offers the financial strength to bring the projects forward, as well as market leading competence in wind power development, construction and operations. Furthermore, Nordisk Vindkraft has extensive experience of developing wind power projects in northern Sweden, which has similar conditions to inland Agder and Rogaland. HybridTech are convinced that our partnership with Nordisk Vindkraft is the best possible way to secure the success of the portfolio."

For further information please contact Arne Lorenzen, Nordisk Vindkraft via +46 (0)31 339 5961 or Dag C. Weberg, HybridTech via +47 (0)971 58 318.