Statkraft halts key wind project

Norway's state-owned power group Statkraft has cancelled plans to develop a 1,000 megawatt wind power park in central Norway due to low power prices.

"Power prices in the Nordic power market are relatively low. A growing power surplus and continued moderate demand for electricity have reduced the long-term price expectations," the company said in a statement.

"Updated analyses therefore show that the projects in central Norway will not be profitable.". 

 

Reuters update

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