Financing capacity

At present, the Group's balance sheet is robust and the recognised equity amounted to NOK 64.9 billion at the end of 2009, corresponding to 45.1 per cent of the total assets.

Statkraft is not listed on the stock exchange, and is mainly financed through own operations and borrowed capital. Statkraft has a robust cash flow providing good credit ratings, and must at all times have a liquidity reserve sufficient to operate the business for more than six months without raising new loans. The Group has two unused five-year committed drawing facilities of NOK 5 billion, falling due in 2012, and NOK 3 billion, falling due in 2013. New loans must have terms to maturity which ensures long-term financing and a good spread of due dates.