AF Gruppen subsidiary Kanonaden Entreprenad has been commissioned to design and
build two power plants on behalf of Svenska kraftnät. The assignment will be
carried out by a consortium with Hitachi Energy where Kanonaden's share of the
contract being worth approximately SEK 170 million, excluding VAT.

The commission encompasses two STATCOM facilities in the Stockholm region, which
will be important for the transition to renewable energy sources.

The STATCOM systems are a static compensator that can automatically regulate the
voltage in grids - which is a need that increases as conventional power plants
are shut down and replaced by wind and solar energy.

The contract will be carried out on a turnkey basis, and Kanonaden's assignment
will include the demolition of the existing facility, design work, construction,
and fitting/installation works. 

"This contract marks our entry into a new and growing market and is in line with
our strategy of focusing on energy and power sectors," says Bård Frydenlund, EVP
of AF Gruppen.

"We had a great partnership with our fellow consortium member Hitachi Energy
during the tendering phase, and we are looking forward to the design and build
phases. Together we will be able to deliver an excellent, all-in-one solution to
Svenska kraftnät."


For further details, please contact:
Bård Frydenlund, EVP for Sweden and Betonmast for AF Gruppen, tel.: +47 918 68
621
Peter Ek, CEO of Kanonaden Entreprenad Mälardalen, tel.: +46 705 77 61 77

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