 The company is owned by Statoil and Statkraft, with 50% each.The company was founded in 1994 by Statkraft, Statoil and Norsk Hydro with 1/3 ownership each, though Statoil in 2004 sold its ownership to Statkraft and Norsk Hydro.In 1996, Naturkraft received permission from the Norwegian Water Resources and Energy Directorate to build both of the plants, at Kårstø and Kollsnes.