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Statkraft’s strategy: Creating value by enabling a net-zero future
At Statkraft we have been making renewable energy possible for over a century – energy that the world needs now, more than ever. Here's our strategy.
Over the past years, Statkraft has developed into a leading global renewable energy company. We have scaled our business and delivered stable operations and very strong returns to our owner while the world has experienced increased geopolitical tension and extreme events.
Statkraft’s strategy is built on the fundamental drivers of the energy transition – continued growth in demand for renewable energy, more weather-based energy systems with increased need for flexibility, and more complex energy markets. These drivers have proven robust through shifting market conditions and increased geopolitical concerns.
With our current portfolio and competitive strengths, Statkraft is well-positioned to seize the opportunities arising from the energy transition – creating value by enabling a net-zero future.
Statkraft’s strategy builds on four strategic pillars:
1. Provide clean flexibility – leveraging hydropower
More flexibility solutions are needed in the future energy system, where Statkraft is well positioned with a unique hydropower portfolio and strong market expertise.
Statkraft will optimise and expand our portfolio across prioritised markets, both in hydropower and selected additional clean flexibility technologies. In Norway, we will increase reinvestments and develop new capacity by upgrading and transforming suitable existing plants.
Targets:
- Largest hydropower company in Europe, and a significant player in South America and India – initiating at least five larger capacity upgrades in Norway by 2030.
2. Grow in solar, wind and battery storage
Substantial growth is expected in renewables globally, with a future power system dominated by solar and wind.
Statkraft will continue to grow into a major developer of solar, onshore wind and batteries, and deliver competitive operations and maintenance for own assets. Within offshore wind, Statkraft is pursuing an industrial role in Northern Europe.
Targets:
- Major developer of solar, onshore wind and battery storage with an annual delivery rate of 2-2.5 GW from 2026 and onwards.
- Industrial offshore wind player in Northern Europe – developing 6-8 GW by 2040.
3. Deliver green market solutions to customers
Increasingly complex energy markets lead to strong demand for tailor-made solutions and favour players with a competitive edge in trading and market risk management.
Statkraft will continue to pursue a market leading position in serving customer needs across the value chain with innovative and reliable solutions. We will optimise the value of own assets, grow our market solutions business for external customers, and strengthen our proprietary trading activities.
Targets:
- Top-tier provider of market solutions in Europe with a significant global reach.
- Enable industrial customers’ green transition and contribute to an efficient energy market.
4. Develop new energy solutions
Decarbonisation leads to demand for several new technologies, representing substantial business opportunities.
To build options for future growth, Statkraft will explore, build, and scale value-creating businesses in prioritised new energy solutions, aiming to own and operate or to spin off. Within green hydrogen, Statkraft aims to build a position as an industrial developer of green hydrogen.
Targets:
- Explore, build, and scale new green energy businesses, to own and operate or spin off.
- Industrial developer of green hydrogen – staged ramp-up to deliver 1-2 GW by 2035.
Safe, sustainable, and ethical operations at our core
The foundation of the strategy is to ensure sustainable, ethical, and safe operations, which are core principles that we will never compromise on.
Statkraft has a long history as a responsible renewable energy company. We continuously strive towards a safe and healthy workplace without injury and harm. Additionally, Statkraft aims to embed sustainability in everything we do, creating value for society, the environment, and the company through our activities. We have a zero-tolerance policy for corruption and unethical practices.