On 7th July 2016, E-CO Energi Holding AS ("E-CO Energi" or the "Company") entered into a NOK 1,500,000,000 multi-currency revolving credit facility (the "Facility"). The Facility has a tenor of 5 years including two one-year extension options.
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P. O. Box 255 Sentrum
C. J. Hambros plass 2 C, Oslo
Tel: + 47 24 11 69 00
Fax: + 47 24 11 69 01
Norway's second largest producer of hydroelectricity
E-CO Energi is one of Norway's leading energy groups. Its core activities are the ownership and management of hydropower plants and development of new renewable power projects. The City of Oslo owns 100 % of the parent company, E-CO Energi Holding AS.
E-CO Energi is Norway's second largest producer of hydroelectricity with a mean annual production of 9.7 TWh and a production capacity of approx. 2 800 MW. READ MORE
Press release 02/16
E-CO reported a profit after tax of MNOK 289 in Q1 2016, compared with MNOK 305 in Q1 2015. High power production largely offset low power prices. Good production management helped the Group obtain a selling price was 11 per cent higher than the area price.
Press release 01/16
E-CO Energi turned in a satisfactory performance for 2015, given the low power prices that prevail. E-CO Energi's operating revenues totalled MNOK 2 511, compared with MNOK 2 863 in 2014. Successful hedging and good production planning helped ensure the Group's selling price was 34 per cent higher than the spot price. The net profit for the year was MNOK 533, compared with MNOK 713 in 2014. The Board of Directors proposes a dividend of MNOK 685. The Group expects lower profits in future in the light of the forward prices for 2016 and later.