Statkraft Refines Investment Strategy for Renewables

Focus on Core Markets
Statkraft has announced a strategic shift to concentrate its investments and organizational efforts on a select group of countries. This move aims to build scale, enhance competitiveness, and maximize value creation, supporting the company’s commitment to a net-zero future.

Key Investment Areas
The company will prioritize investments in Norwegian hydropower and expand its operations in solar, wind, and battery storage across the Nordics, Europe, and South America. Statkraft aims to increase its annual energy delivery to 2-2.5 GW by 2026 and gradually assume an industrial role in offshore wind projects while developing its green hydrogen capabilities.

Divestment Plans
As part of its refined strategy, Statkraft will divest its onshore wind, solar, and battery operations in the Netherlands and Croatia. Additionally, the company plans to sell its hydropower and solar assets in India, allowing it to concentrate on high-potential markets that align with its growth ambitions.

Organizational Changes
Effective January 1, 2025, Statkraft will implement an updated organizational structure and new corporate management to support its sharpened strategy. CEO Birgitte Ringstad Vartdal emphasized the strong growth potential of renewable energy despite global economic challenges, stating that the company has positioned itself as Europe’s largest producer of renewable energy.

Commitment to Profitable Growth
Vartdal noted that Statkraft’s attractive portfolio of renewable projects and track record of solid returns will enable the company to focus its capital on core markets, ultimately strengthening its competitiveness and enhancing value creation.

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