Statkraft (Statkraft Energi AS)

Statkraft (Statkraft Energi AS within the group) is a Norwegian state-owned energy company focused on renewable power generation and energy market services. Headquartered in Oslo and fully owned through Statkraft SF by the Norwegian Ministry of Trade, Industry and Fisheries, it is described as a leading company in hydropower internationally and Europe’s largest generator of renewable energy. The group develops, owns and operates hydropower, onshore wind, solar, gas-fired power, biomass and district heating assets, and is a global participant in physical and financial energy markets. In 2025 its global power generation reached about 72 TWh, largely from hydropower, supported by more than 300 hydropower plants across the Nordics, Europe, South America and Asia. Statkraft is organised into business areas for Nordics, Europe, International, Markets and Technology and Project Delivery, supported by staff units for finance, corporate development, and people, organisation and sustainability. Nordics manages generation and ownership interests in Norway and Sweden, while Europe and International cover hydropower, wind, solar, gas, grid services and batteries in European and non-European markets respectively. Through Statkraft Energi AS the group holds significant Norwegian hydropower stakes and participates in joint ventures such as Sira Kvina and other plant consortia, and it also owns 100% of Baltic Cable AB, an HVDC interconnector between Sweden and Germany, alongside industrial stakes in Norwegian utilities Skagerak Energi, Eviny and Å Energi. Beyond generation, Statkraft provides market access, trading, hedging and asset optimisation services, including flexibility management and virtual power plants that aggregate distributed renewable assets. It structures power purchase agreements for generators and large industrial and corporate consumers, including long-term corporate PPAs backed by hydropower, wind or solar. The group operates in more than 20 countries, with notable portfolios in markets such as Peru, Brazil, Chile, Spain and Ireland. Its corporate strategy, renewed in 2025, prioritises hydropower growth in the Nordics, onshore wind, solar, batteries and grid services in selected regions, and a streamlined, profitable portfolio. A dedicated sustainability strategy, updated in 2024, focuses on climate, biodiversity, circular economy and a just transition, positioning Statkraft to support decarbonisation while maintaining financial robustness.