Statkraft

Statkraft AS is a hydropower company, fully owned by the Norwegian state. The Statkraft Group is a generator of renewable energy, as well as Norway’s largest and the Nordic region’s third largest energy producer. Statkraft develops and generates hydropower, wind power, gas power, district heating and solar power, and is also a player in the international energy markets. The company has some 3600 employees and their headquarters is located in Oslo, Norway.

Statkraft AS
Aksjeselskap
IndustryElectricity
Founded1986
HeadquartersOslo, Norway
Area served
Norway
Key people
Christian Rynning-Tønnesen (CEO)
Thorhild Widvey (Chairman)
Revenue NOK 55.6 billion (2018)
NOK 20.6 billion (2018)
NOK 13.4 billion (2018)
Total assets166,630,000,000 NOK[1] (2016) 
Number of employees
3600 (2020)
ParentMinistry of Trade, Industry and Fisheries
Websitewww.statkraft.com
Footnotes / references
www.statkraft.com

History

The Norwegian state acquired its first ownership rights to a waterfall when they bought Paulenfossen in Southern Norway in 1895.

In 1921 The Norwegian Water Resources and Energy Directorate (NVE) was created to operate the nation's power plants. From 1950 to 1960, the state constructed large hydropower plants across the country.

In 1986 the power plants and central power grid were split off as Statskraftverkene, which was divided again in 1992 into Statkraft and Statnett. Statkraft SF was created as a government enterprise.

Through the 1990s and 2000s Statkraft acquired a number of local power plants in Norway in addition to expanding internationally. In 2004 Statkraft was reorganized as a limited company, Statkraft AS, still wholly owned by the state.

International expansion

Statkraft has expanded internationally over the beginning of the 21st century, opening plants in Nepal (1993), Peru (2003), Chile (2004), India (2004), UK (2006), Albania (2007), Germany (office 1999, power generating from 2007), Brazil (2008), Netherlands (office from 1998, power generation from 2018), Ireland (2018)

The group has also opened offices in France (2009) and the United States

In 2007 Statkraft and E.ON signed a letter of intent to swap Statkraft's shares in E.ON Sweden in exchange for flexible power production assets and shares in E.ON. The total value of the asset swap was €4.4 billion. The transaction made Statkraft Europe's largest producer of renewable energy in 2018.

Statkraft today

Hydroelectric power provides the majority of Statkraft's renewable energy. The total annual power production was 62.6 TWh in 2018.[2]

In 2013, Statkraft began constructing the Devoll Hydropower project In south eastern Albania. It consists of two hydropower plants, Banja and Moglicë in the Devoll valley, with an installed capacity of roughly 256 MW. Banja power plant was completed in 2016,[3] with the third being completed by 2019.[4] The total project is expected to cost more than 600 million euros.[5]

Production takes place in more than 300 hydropower plants in Norway, Sweden, Germany, UK, Turkey, as well as several countries in South America and Asia. Statkraft is involved in other hydropower projects in the Nordic region and Southeast Europe. The company is developing new production capacity in selected countries in South America and Asia.

Wind power

Wind power is a renewable and emission free energy resource. EU has set ambitious goals for the reduction of CO2 emissions and the development of renewable energy.

Solar power

Solar power will be an even more important energy source in the future. Statkraft has worked with solar energy since 2010 and has solar power plants in India and the Netherlands.

District heating

District heating is a separate energy system that forms a natural part of the energy supply for towns and cities and densely populated areas. District heating based on renewable energy sources has a positive environmental effect. Through the subsidiary Statkraft Varme, the Statkraft Group owns and operates a number of district heating plants in Norway and Sweden.

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References
  1. http://www.statkraft.com/globalassets/1-statkraft-public/05-investor-relations/4-reports-and-presentations/2016/2016-statkraft-as-annual-report/annual-report-2016-statkraft-as_eng_small.pdf.
  2. "Annual Report 2018 | Statkraft" (PDF). www.statkraft.com. Retrieved 2018-02-12.
  3. Statkraft: Banja HPP, visited March 24 2019
  4. Statkraft: Moglicë HPP, visited March 24, 2019
  5. "Devoll Hydropower Project". Retrieved 2016-05-10.

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