Statkraft has announced a sharpened investment strategy, focusing on fewer countries to build scale, strengthen competitiveness, and enhance value creation. The company will prioritize its investments in Norwegian hydropower and global market operations, while expanding solar, wind, and battery storage projects in the Nordics, Europe, and South America. Statkraft plans to increase its annual renewable energy delivery to 2–2.5GW by 2026.
Statkraft also intends to gradually develop an industrial role in offshore wind in Northern Europe, targeting 6–8GW with partners by 2040. Additionally, it aims to become a leading industrial developer of green hydrogen, with plans to reach 1–2GW past final investment decision by 2035 as the market matures.
As part of its revised strategy, Statkraft will divest its onshore wind, solar, and battery businesses in the Netherlands and Croatia. Over time, it will also exit its hydropower and solar assets in India, focusing instead on key markets in the Nordics, Europe, and South America.
President and CEO Birgitte Ringstad Vartdal explained the company's approach: “Despite geopolitical tensions and inflation, the cost competitiveness of renewable energy is driving strong growth in all energy market scenarios as projected by Statkraft and other leading analysts, presenting profitable growth opportunities worldwide.”
She continued: “Statkraft has built a strong position as Europe's largest producer of renewable energy and a significant player in selected markets in South America, with an attractive portfolio of profitable renewable projects and a track record of profitable investments and solid returns. We have already sharpened our strategy to allocate capital to our core business, and now we are focusing our investments on fewer markets. This will build scale and strengthen our competitiveness and value creation.”
While Statkraft's investments in the Nordics remain robust, including several major capacity upgrades for Norwegian hydropower, the company is also optimizing its renewable energy portfolio for profitability in high-potential markets in Europe and South America.
