Statkraft | Development profile, portfolio

What‘s the focus of Statkraft?

Norwegian energy group Statkraft seeks to significantly expand its wind power, solar and battery storage capacities. Until 2030, the Oslo-based group is planning to build an additional 30,000 MW of renewable energy assets. This means an increase in the group's renewable energy production by 50 per cent.

International focus beyond Norway

Locally, the company’s focus is not only restricted to Norway. Since August 2022, the group has installed three geographic devisions, called "Nordics", "Europe" and "International" which represent the geographical areas of focus. Outside Norway, the company‘s focus is on the development of onshore wind farms as well as large-scale storage facilities. When it comes to offshore wind energy, Statkraft seeks to concentrate on the North Sea and especially on the Irish and Norwegian markets.

Largest producer of renewable energy in Europe

Statkraft is the largest producer of renewable energy in Europe and an international leader in hydropower. By generating electricity from hydro, wind, solar and gas, as well as supplying district heating, the Group is regarded as a major renewable energy developer worldwide and is shaping developments in the industry. The Norwegian state-owned company employs almost 4,600 people in more than 18 countries and strives for a world in which there is only energy from renewable sources. Hence, Statkraft has been implementing renewable energy projects since 1895 and can now draw from over 125 years of experience with hydropower plants along with over 20 years of experience with wind projects.

PPA regarding wind farm in Finland

Norwegian energy group Statkraft signed a power purchase agreement (PPA) with recycler Umicore for the energy that is being produced from a 97 MW wind farm in northern Finland. Starting in 2024, Statkraft will provide Umicore with 60 GW hours of renewable energy a year until 2033. Statkraft expects the unsubsidised wind farm to be commissioned in 2023.

Acquisition of wind portfolio on Scotland‘s Shetland islands

In April 2023, Oslo-based Statkraft AS acquired a 120 MW wind portfolio in Scotland. Located on the Shetland islands, the portfolio consists of the 72MW Beaw Field in Yell and the 48 MW Mossy Hill outside Lerwick. Both wind farms are under development.

Image Source: Unsplash, 29.08.2021