Agder Energy Group supplies clean energy so that society can prosper now and into the future. The Group’s activities comprise the generation, distribution and sale of renewable energy, as well as providing energy-related services. Agder Energi is owned by the municipalities in Agder county, which have a combined ownership interest of 54.47%, and Statkraft Industrial Holding AS, which owns 45.53% of the shares in the company. On Tuesday 20 September 2022, Agder Energi and Glitre Energi have in their respective extraordinary general meetings approved the proposed merger between the two companies.
The merger of the two companies creates Norway’s largest integrated power group with operations in the entire value chain, from production to retail. Hydropower will be the foundation of the business and comprises an annual production of some 11.3 TWh from 72 wholly and partially owned hydropower plants. The merger also creates Norway’s second largest grid company with a power grid over 30,000 kilometers long that distributes power to approx. 310,000 customers in the Buskerud and Agder counties. The company will manage and trade more than 30 TWh of power in the Nordics and becomes Norway’s largest company in electricity sales to companies. The merged company has over 200,000 electricity customers in the private market.
Alpha Corporate Finance has acted as financial advisor to the 25 municipalities in Agder County, which combined control 54.47% of the shares in Agder Energi.