Statkraft AS - Company Profile
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Business Description
Statkraft AS (Statkraft) is an electric utility that produces electricity and supplies district heating. The company generates electricity from hydro, wind, gas, and bio-power sources. It has installed power generation capacity of approximately 19.1 GW and produced 60.2 TWh.
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R&D Overview
Statkraft has undertaken various R&D initiatives to strengthen its competitive advantages and support its ambitious growth plans. The company prioritizes R&D in hydropower, energy management, wind, solar, energy storage, and new green energy solutions. The R&D portfolio includes internal development, contract R&D, and joint industry projects, contributing to a sustainable future for the renewable energy sector. In 2024, significant investments were made in pilot projects and technology demonstrations, such as the 2 MW floating PV demo plant in Albania and the biofuel demo plant in Norway. The R&D activities support operations and new business development, with around 100 projects targeting all pillars of the corporate strategy, including sustainability goals. Statkraft AS also focuses on reducing the cost of energy in wind and solar, addressing investment uncertainties, land scarcity, and sustainability challenges in solar R&D, and supporting the development of hydrogen ambitions. The R&D unit of Statkraft is responsible for identifying, developing, and scaling opportunities within renewable energy. It creates value through tailored ownership and business models for selected mature businesses. The unit also supports the development and growth of ambitions in hydrogen and plays a vital role in understanding the future energy sector and achieving sustainability targets. In FY2024, the company spent NOK171 million on R&D, which as a percentage of revenue stood at 0.20% and grew 5.6% YoY.
Business Segments
Overview
The segment generates revenue through the development and ownership of onshore wind, solar, hydropower, gas-fired, biomass and grid/storage assets in Europe outside the Nordic region.
Performance
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Overview
The segment generates revenue through the development and ownership of onshore wind, solar, hydropower, gas-fired, biomass and grid/storage assets outside the Western Europe region.
Performance
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Overview
The segment’s revenue is generated from sales in the spot markets and long term contracts. It also delivers concessionary power.
Performance
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Overview
Develops and operates district heating plants in Norway and Sweden. Its energy sources include biomass, waste, electricity, oil and gas.
Performance
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Overview
This segment includes revenue from propriety trading, origination, market access for generators of renewable energy and dynamic asset management.
Performance
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Overview
The segment generates revenue by identifying, developing and scaling opportunities in renewable energy industry. It encompasses electric vehicle (EV) charging, hydrogen, and biofuel.
Performance
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Geographical Segments
Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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