Alpiq acquires stake in Conceptor Renewable Energy and Technology AS (CRET)

Alpiq Holding Ltd. has acquired a 13.04 percent share in Conceptor Renewable Energy and Technology AS (CRET) of Norway. The company develops, builds and operates renewable energy plants in Scandinavia. By acquiring this interest, Alpiq is expanding its presence in new renewable energies.

Since 16 June 2009, Alpiq Holding Ltd. has held a 13.04 percent stake in Norwegian company Conceptor Renewable Energy and Technology AS (CRET) via Alpiq subsidiary Ecopower Skandinavia AS. The parties have agreed not to disclose the acquisition price. Alpiq views this shareholding as a good opportunity to accelerate its engagement in new renewable energies in Scandinavia. "We are delighted that Alpiq has decided to help us become one of the leading partners in new renewable energies in Scandinavia," says CRET CEO Tor Arne Pedersen.

Oslo-based CRET currently has more than 30 small hydroelectric power station projects under development and construction or in operation. The company is aiming to build small hydroelectric power stations with an annual production volume of 475 GWh by 2015. In addition to small hydroelectric power stations in Norway, CRET is also developing wind farm projects in Norway and Sweden with a potential installed capacity of around 400 MW.