Statkraft to Invest $1.2 Bn in Renewable Energy

In order to achieve the target, Statkraft has an ambition to reach 6000 MW onshore wind and 2000 MW solar until 2025.

Renewable Energy generator, Statkraft in a bid to strengthen its position in the renewable energy industry has planned to invest USD 1.2 billion in the renewable energy segment during the period 2019-2025.

In order to achieve the target, Statkraft has an ambition to reach 6000 MW onshore wind and 2000 MW solar until 2025.

Besides, having a healthy pipeline for renewable projects, the company Statkraft aims to triple its volumes managed on behalf of customers.

Moreover, as Europe welcomes majority of growth, substantial growth will be added to markets where the company is already present in South America and India.

Significantly, Statkraft is Europe’s largest producer of renewable energy. The new strategy comprises developing, generating and trading energy, including purchasing and selling renewable power for other companies.

The company plans to be financed partly from earnings from existing businesses supplemented by systematic divestments of shares in completed solar- and wind projects to financial investors. The investment program will be adapted to the company’s financial capacity and rating objectives.

CEO, Christian Rynning-Tønnesen says, “The combination of our unique portfolio of flexible hydro power, in-depth market understanding, innovative solutions, as well as our customers’ increased interest in renewable energy make us a preferred partner for both producers and consumers of clean energy.”