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Varanger Kraft

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(Redirected from Pasvik Kraft)
Varanger Kraft AS
[REDACTED]
Company typeMunicipal owned
IndustryPower
Founded1938
HeadquartersVadsø, Norway
Area servedEastern Finnmark
Key peopleÅge Andresen (CEO)
Terje Kofoed (Chairman)
RevenueIncrease NOK 314 million (2006)
Operating incomeNOK 109 million (2006)
Net incomeNOK 101 million (2006)
Number of employees107 (2007)
Websitewww.varangerkraft.no

Varanger Kraft is a municipal owned power company that operates four hydroelectric power stations producing 420 GWh per year through the subsidiary Pasvik Kraft, operates the power grid in the seven owner municipalities in Eastern Finnmark with 3,200 kilometres (2,000 mi) of power lines and 16,000 customers, as well as retails power through Barents Energi. Head offices are located in Vadsø.

The company is owned by Sør-Varanger Municipality (31.25%), Vadsø Municipality (21.88%), Tana Municipality (12.50%), Vardø Municipality (12.5%), Båtsfjord Municipality (9.38%), Berlevåg Municipality (6.25%) and Nesseby Municipality (6.25%). It operates the power grid in the same municipalities. The four power stations are Gandvik [no], Melkefoss, Skogfoss and Kongsfjord [no].

History

The company dates back to 1938. It was made a limited company in 1994, and in 2000 it bought the defunct mining company Sydvaranger, that it later sold to Tschudi Group. In 2003 the company was transformed to a corporate model.

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