Statkraft has announced a strategic shift to concentrate its investments in fewer countries, aiming to build scale and enhance competitiveness in the renewable energy sector. This decision aligns with the company’s commitment to sustainable energy and value creation.
Key Investment Focus Areas
- Norwegian Hydropower: Statkraft will prioritize investments in its core hydropower operations in Norway.
- Global Market Operations: The company plans to expand its global market operations, particularly in renewable energy.
- Renewable Energy Growth: Statkraft aims to increase its annual delivery rate of solar, wind, and battery storage to 2-2.5 GW starting in 2026 across the Nordics, Europe, and South America.
Strategic Developments
- Offshore Wind and Green Hydrogen: Statkraft intends to gradually establish an industrial role in offshore wind in Northern Europe and develop a position as an industrial developer of green hydrogen as the market matures.
- Divestments: As part of its refined strategy, Statkraft will divest its onshore wind, solar, and battery businesses in the Netherlands and Croatia. Additionally, it plans to divest its hydropower and solar assets in India to concentrate on high-potential markets in the Nordics, Europe, and South America.
Leadership Insights
Birgitte Ringstad Vartdal, President and CEO of Statkraft, emphasized the company’s strong position as Europe’s largest producer of renewable energy and a significant player in selected South American markets. She noted that despite geopolitical tensions and inflation, the cost competitiveness of renewable energy continues to drive growth opportunities worldwide. Vartdal stated, “We have already sharpened our strategy to allocate capital to our core business, and now we are focusing our investments on fewer markets” [1].
Future Goals
- Nordics Investments: Statkraft’s investment plans in the Nordics remain robust, including ongoing onshore wind development and five major capacity upgrade projects in Norwegian hydropower plants.
- Offshore Wind Development: The company aims to develop 6-8 GW of offshore wind capacity with partners by 2040 in Northern Europe.
- Hydrogen Development: Statkraft targets the development of 1-2 GW of hydrogen capacity past the final investment decision by 2035.
This strategic focus is expected to strengthen Statkraft’s competitiveness and enhance its value creation in the renewable energy market.
Learn more:
- Statkraft to prioritise investments in Norway, Europe, and South America
- Statkraft to prioritise investments in Norway, Europe, and
- Statkraft to focus on fewer regions and sell off projects as part of new strategy | Windpower Monthly
