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Hydro completed hydropower transaction with Lyse on December 31. Both the companies have merged power production assets through the creation of a new company, Lyse Kraft DA, which includes Hydro’s hydropower assets Røldal-Suldal Kraft (RSK) and the majority of Lyse’s power production portfolio.
In October 2020, the companies announced plan to merge part of their respective hydropower production in southern Norway.
Hydro owns 25.6 percent of Lyse Kraft DA and Lyse 74.4 percent. The newly formed company has a normal annual power production capacity of 9.5 TWh.
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“As part of the agreement, Hydro remains operator of the RSK assets and is now in addition assuming operatorship for Lyse’s until now fully owned hydropower plants. Lyse will be responsible for market activities and water disposal,” Hydro said.
Hydro is now Norway’s third-largest operator of renewable power, with a combined renewables production of 13.6 TWh in a normal year.
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