Statkraft in talks with firms to set up data centres in Norway

HIVE Digital Technologies

11/01/2018 15:10

By Lefteris Karagiannopoulos 
    OSLO, Jan 11 (Reuters) - Norwegian power firm Statkraft 
 STATKF.UL  is negotiating with U.S. and other companies to 
build large data centres in its home country, favoured by a 
recent change in Norway's tax system, the state-owned utility 
told Reuters on Thursday. 
    Unlike its Nordic neighbours, which have attracted large 
data centre investments from big-data firms such as Apple 
 AAPL.O , Alphabet  GOOGL.O , Facebook  FB.O  and Hive 
Blockchain  HIVE.V , Norway has not yet cashed in on the trend. 
    Known for its cheap, plentiful supply of hydroelectric 
power, Norway at the start of the year exempted data centres 
from paying property taxes in a bid to attract foreign customers 
in competition with countries like Finland, Sweden and Denmark. 
    "You had unnecessary taxation in this business and this risk 
is now gone. We are working hard to get some contracts signed 
but I couldn't say by when," Statkraft CEO Christian 
Rynning-Toennesen told Reuters on the sidelines of a conference. 
    "Competition is tough ... but we have a good offering. 
(Norway is now) a good place to establish an advanced computer 
based business," he added. 
    In 2017, Statkraft received proceeds of between 1.2 billion 
and 1.5 billion euros ($1.44 billion-$1.80 billion) from 
divesting its offshore wind assets, money the company plans to 
re-invest. 
    "Within the next three years we will invest all of it. It 
will be in hydropower, onshore wind and solar. Solar will be in 
India, Brazil and Europe," Rynning-Toennesen said. 
    He declined to specify the size of the solar capacity that 
Statkraft plans to build and said the firm was evaluating 
different projects. 
    ($1 = 0.8310 euros) 
 
 (Editing by Mark Potter) 
 ((lefteris.karagiannopoulos@thomsonreuters.com; +47 23316519; 
Reuters Messaging: 
lefteris.karagiannopoulos.thomsonreuters@reuters.net)) 
 
Keywords: NORWAY STATKRAFT/