Statkraft: Fuelling Europe’s Shift to Renewable Energy
Statkraft is proud to be a driving force in that renewable transition in Europe and beyond. From 2025, we plan to complete one new power plant every nine days. A faster renewable transition will reduce climate change impact, strengthen industrial growth, and could improve resilience in geopolitical uncertain times.
At the international climate negotiations COP28 in December 2023, consensus called for a tripling of renewables by 2030, which implies an increase of around 11,000 GW. Global annual growth in renewables increased by nearly 50 percent last year. As a company that has been making clean energy possible for over a century, nothing could please us more.
While the world’s capacity to generate renewable electricity is expanding faster now than in the last three decades, we must do a lot more to speed up in order to reach the tripling target.
Statkraft is the largest power producer in Norway, and recently announced big investments in Norwegian hydro and wind power. We develop and operate renewable energy assets across Europe, South America and Asia. In total, Statkraft has more than 580 projects in pipeline in hydropower, solar, onshore and offshore wind, grid services, and hydrogen. Engaging in a constructive dialogue with local communities and working to achieve social acceptance for projects, is an important part of rolling out these projects.
Furthermore, Statkraft is one of the largest traders in the European Energy market and the third largest provider of Power Purchase Agreements (PPA) in Europe. PPAs help companies transitioning to renewable energy. We are also strong proponents of green hydrogen and its derivatives, as we think it will be necessary for hard-to-abate sectors to decarbonise. Our goal is to become a leading green hydrogen player in Europe, and to establish an industrial and wholesale position in selected markets.
Statkraft is a vocal advocate of close energy collaboration in Europe and will contribute to developing green industrial partnerships in our key markets. Our projects will help reduce emission, but also help strengthen energy security and more resilient green industrial value chains.
In Germany, market activities form the basis of our operations. From Düsseldorf, around 500 employees run a continental hub for customer energy solutions and trading, which spans across 21 countries. Our activity contributes to the growth of renewables in the German market, amongst others, through power purchase agreements for subsidy-free and post-EEG wind and solar plants.
We also operate ten hydropower plants, five gas power stations and two biomass power plants and a battery energy storage system in Germany. We built our first solar power plant in the country in 2018 and operate a 600 MW onshore wind power portfolio and are amongst the top ten onshore wind farm operators in Germany. Currently we are developing our first hydrogen project at our power plant site in Emden: a 10 MW pilot electrolyser that we plan to put into operations in 2026. Statkraft aims at operating 400 MW green hydrogen capacity in Germany until 2030.
Statkraft plans to meet the need for clean energy and contribute to a greener industry. When the stakes are high, our ambitions and strategies must follow. That is why Statkraft will:
- Triple our annual capacity by 2030.
- Build out of 2.5-3 GW annually by 2025 and 4 GW of new solar and wind assets annually until 2030.
- Build 2 GW production capacity for hydrogen by 2030.
- Further expand our own installed capacity (19,105 MW) and our operation of third-party capacity (currently at 26,700 MW).
- Aim to become a leading developer of green hydrogen, biofuel, EV charging, district heating.
The International Energy Agency estimates that existing policies and market trends will develop 7300 GW of renewable energy by 2025. That equals a 2,5 times growth, well on the way to a tripling. Renewables will not only surpass coal in 2025, but solar and wind will also each surpass nuclear in 2025 and 2026. Statkraft has been making clean energy possible for over a century, and we are uniquely placed in the European market to help develop new and beneficial energy solutions in the global renewable transition.
Statkraft is Europe’s largest producer of renewable energy, developing, building, and operating hydro, wind, solar, and biomass assets. We are expanding globally to increase renewable power generation from water, wind, and sun.
About the company
Statkraft is Europe’s largest producer of renewable energy, developing, building and operating hydro, wind, solar, gas and biomass assets. We are expanding globally to increase renewable power generation from water, wind and sun.Statkraft has 5,700 employees in 21 countries.