Norway's Statkraft to Sell Solar Business, May Cut BKK Stake, Chief Says

Statkraft AS, Norway’s state-owned utility, plans to sell its solar energy unit, cut investments in wind power and said it may reduce its ownership in power supplier BKK AS to maintain a “satisfactory” credit rating.

“We’ve found it necessary to focus our strategy and reduce our investment,” Chief Executive Officer Christian Rynning- Toennesen said today in a statement. “We still need a positive clarification on capital and dividend policies going forward, but these measures underline the group’s ability to continuously adapt our plans to maintain a satisfactory credit rating.”

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Source: Bloomberg