The new Hafslund E-CO
When Hafslund E-CO and Eidsiva Energi go together, we get larger and stronger expertise environments within hydropower generation, grid operations and innovative electrification solutions. Hafslund E-CO has significant ownership interests in all three areas.
Before the summer it became clear that the companies in the Eidsiva Energi and Hafslund E-CO groups will be merged. This creates strong environments within both hydropower generation and grid operations. Hafslund E-CO’s focus on start-ups and innovative electrification solutions is also strengthened with Eidsiva Energi on the owner side.
Strong ownership of new grid business
Following the transaction, which was completed on September 30 this year, Eidsiva Energi will own 100 per cent of the Hafslund Nett shares, which together with Eidsiva Nett will form a new grid company. This electric grid company will be Norway’s largest, with about 900,000 customers. Hafslund E-CO will have significant ownership in the grid business through its 50 per cent stake in Eidsiva Energi.
Norway’s second largest hydropower producer
The merger of Eidsiva Energi and Hafslund E-CO creates a stronger hydropower environment. Eidsiva Vannkraft has been transferred to E-CO Energi and becomes part of a jointly owned production company where Hafslund E-CO is the majority owner. In addition to operating an annual production of more than 20 TWh, the new production company will own hydroelectric power plants which together produce more than 17 TWh, enough power to supply more than 2.2 million people.