Scira Offshore Energy and Norsk Hydro sign Offshore Wind Power Deal in UK

London, UK (28th June 2005): Norsk Hydro ASA, (Hydro) together with Scira Offshore Energy Ltd. (Scira) signed an agreement on Monday 27th June 2005 to buy a 50 percent stake of Scira, a UK based wind power company. The company Scira was established to develop the 315 megawatt (MW) Sheringham Shoal Offshore Wind Farm off the coast of Norfolk in the East of England.

Scira Offshore Energy Limited is owned by UK based wind development and engineering company SLP Energy and Dutch sustainable energy development company Ecoventures BV. The 50 percent purchase by Hydro allows for both SLP Energy and Ecoventures to each retain a 25 percent share of the company. This agreement carries an option for Norsk Hydro to acquire a further 45 percent of the company which would raise the Norwegian energy and aluminium company's stake to 95 percent.

“This is an important step for Hydro in our efforts on international renewable energy,” says Alexandra Bech Gjørv, head of New Energy in Norsk Hydro. “We also see this as a sound investment thanks to the well functioning certificates system initiated by the authorities to support wind projects in the UK.”

Hydro, SLP Energy and Ecoventures will provide the company with a strong team to finalise the development of the Sheringham Shoal Offshore Wind Farm by combining both development, project management, engineering and utility derived skills and experience. Dirk Berkhout, Director of Scira Offshore Energy Ltd. and Ecoventures BV stated, “Hydro has a strong international presence with vast experience in the development and management of large offshore projects.” The complementary skills that Hydro can bring to our company will provide Scira Offshore Energy Ltd. with the fantastic opportunity to successfully finalise the development of the Sheringham Shoal Offshore Wind Farm. David Edwards, Director of Scira Offshore Energy Ltd. and SLP Energy stated: “We warmly welcome Norsk Hydro to Scira Offshore Energy Ltd. Scira is now truly a pan-European company that can deliver high rewards to the renewable energy industry.” "Hydro aims to develop a strong wind energy portfolio", says Bech Gjørv. “It’s vital for us to position ourselves now in order to benefit from the strong growth in offshore wind." Hydro consistently completes difficult offshore oil and gas installation projects on time and on budget. It has also been ranked among the most efficient offshore operating companies in the North Sea.

Renewable Friendly UK Renewable energy sources in the UK currently generate just over three percent of the country’s total electricity supply. About 30 percent of that comes from wind energy. The UK aims to boost renewable energy generation to 10 percent by 2010 and to 15 percent by 2015. The UK government has created substantial market initiatives to encourage projects that support its renewable energy goals. “Wind energy is one of the best placed technologies to help meet these targets,” says Bech Gjørv. The UK is amongst the windiest countries in Europe and accounts for more than 40 percent of the available resource.


Note to editors:

For further information about the purchase of 50 percent of Scira Offshore Energy Limited by Hydro please contact:


For more information please contact:

Herr Frank Wouters, ECOFYS GmbH

Eupener Strasse 59
50933 Köln - Germany
Tel: + 49 221-510907-10
Fax: + 49 221-510907-49
e-mail: F.Wouters@ecofys.de
Internet: http://www.ecofys.de


Mr Bard Hammervold
Hydro
Tel: +47 (0) 22 53 98 09
Mobile: +47 (0) 99 58 31 20
Fax: +47 (0) 22 53 27 25
Email: Bard.Hammervold@hydro.com

Mr Knut Ovreas
Hydro
Tel: +47 (0) 2253 9614
Mobile: +47 (0) 47 90 55 01 48
Fax: +47 (0) 22 53 27 25
Email: knut.ovreas@hydro.com


Ellen Hendrix
Ecoventures
Tel: +31 (0)30 280 8319
Mobile: +31 (0)6 475 06 314
Fax: +31 (0)30 280 8301
Email: e.hendrix@econcern.com


Russell Harper
SLP Energy
Tel: +44 1502 548 215
Mobile: +44 (0)7860 204 415
Fax: +44 (0)1502 585 525
Email: Russell.harper@slp-eng.com


Further Information

Further Information about Scira Offshore Energy Limited and the Sheringham Shoal
Offshore Wind Farm please go to: ghttop://www.scira.co.uk

Further Information about Hydro please refer to: http://www.hydro.com

Further Information about Ecoventures BV please refer to: http://www.econcern.com

Further Information about SLP Energy please refer to: http://www.slp-eng.com

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