AF Gruppen subsidiaryKanonaden 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 approximatelySEK 170 million , excluding VAT. The commission encompasses two STATCOM facilities in theStockholm 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," saysBård 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 forSweden and Betonmast for AF Gruppen, tel.: +47 918 68 621Peter Ek , CEO of Kanonaden Entreprenad Mälardalen, tel.: +46 705 77 61 77
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