Statkraft

Corporate brand

Unclaimed Request correction

Norwegian state-owned energy company and one of Europe's largest generators of renewable electricity.

Last updated August 31, 2026

AI crawler reads

No AI crawler has read this profile since Oct 28, 2026.

Overview

Statkraft AS is a Norwegian state-owned energy company whose principal business is the development, ownership and operation of renewable power assets. Hydropower is the foundation of the group: Statkraft operates and participates in hundreds of hydroelectric plants, particularly in Norway and elsewhere in Europe, and also has hydroelectric interests in South America and Asia. The company has expanded its generation portfolio with onshore wind, solar power, district heating and selected flexible generation assets, while maintaining a substantial role in wholesale energy markets and energy trading. The company traces its institutional origins to the Norwegian state's early ownership of waterfalls and power infrastructure. The state acquired ownership rights to Paulenfossen in southern Norway in 1895, and national electricity assets were subsequently developed through the Norwegian Water Resources and Energy Directorate and a series of large postwar hydropower projects. In 1986, the country's power plants and central grid functions were organized under Statskraftverkene. That entity was divided in 1992, creating Statkraft as the generation-focused state enterprise and Statnett as the transmission-system operator. Statkraft was reorganized as a limited company, Statkraft AS, in 2004 while remaining fully state owned. During the 1990s and 2000s, Statkraft consolidated and expanded its Norwegian generation base and began building an international portfolio. It established or developed operations in markets including Nepal, Peru, Chile, India, the United Kingdom, Albania, Germany, Brazil, France, the Netherlands, Spain and Ireland. International growth has combined direct ownership of generation assets with development activities, offices, partnerships and energy-market operations. A major 2007 asset exchange with E.ON transferred Statkraft's interests in E.ON Sweden in return for flexible generation assets and other holdings. The transaction significantly increased Statkraft's scale and helped establish it as a leading European renewable generator. Hydropower continues to provide most of Statkraft's renewable output and gives the group dispatchable generation and storage capability that can complement variable wind and solar power. The company has also pursued new hydroelectric capacity, including the Devoll project in southeastern Albania, comprising the Banja and Moglicë plants with combined installed capacity of approximately 256 megawatts. Statkraft's wind portfolio has included assets in Germany and France, while its solar business has developed projects in India, the Netherlands and other markets. The 2020 acquisition of Solarcentury strengthened its solar development and production platform in Europe and South America. Beyond generation, Statkraft participates in electricity, gas and environmental-product markets and provides market-access, trading and optimization services. Through Statkraft Varme, it operates district-heating plants in Norway and Sweden. In 2023 it acquired a 450-megawatt pumped-storage, or water-battery, project near Loch Ness in Scotland, adding long-duration flexibility to its renewable-energy strategy. In 2024 it completed the acquisition of Enerfin, Elecnor Group's renewable-energy subsidiary, adding a reported portfolio of approximately 1.5 gigawatts of wind and solar projects. Statkraft describes itself as Europe's largest renewable-energy generator, Norway's largest energy producer and the Nordic region's third-largest energy producer. The group has approximately 7,000 employees and activities in more than 20 countries.

History

Statkraft's history is rooted in the Norwegian state's long-term involvement in electricity and water resources. The state acquired its first ownership rights to a waterfall when it purchased Paulenfossen in southern Norway in 1895. This early intervention reflected the strategic importance of waterfalls to national industrial development and later became part of the institutional lineage of Norway's state power system. The Norwegian Water Resources and Energy Directorate was established in 1921 and operated national power plants during the formative period of the country's electricity system. From the 1950s through the 1960s, the Norwegian state built a large portfolio of hydropower stations. These projects supplied electricity for households and industry and created the asset base from which the modern Statkraft group developed. In 1986, Norway separated power plants and central-grid functions from the prior state structure and organized them under Statskraftverkene. A further structural separation took place in 1992. Statskraftverkene was divided into Statkraft, responsible primarily for power generation and related commercial activities, and Statnett, which assumed the role of transmission-system operator. Statkraft SF was created as a government enterprise. The company acquired additional Norwegian plants during the 1990s and began to pursue international expansion. It was reorganized as Statkraft AS in 2004, changing its corporate form but not its ownership: the Norwegian state continued to own the company in full. Internationalization accelerated from the 1990s into the 2000s. Statkraft opened or developed activities in Nepal, Peru, Chile, India, the United Kingdom, Albania, Germany, Brazil, France, the Netherlands, Spain and Ireland, alongside other market operations. Its international model has included hydroelectric development, renewable-project development, generation ownership, local offices and energy trading. The 2007 arrangement with E.ON was a defining expansion step. By exchanging its interests in E.ON Sweden for flexible production assets and other shares, Statkraft increased its generation scale and broadened its operating position in Europe. Hydropower has remained the company's central technology. Statkraft operates and participates in more than 300 hydroelectric plants across Norway, Sweden, Germany, the United Kingdom, Turkey and countries in South America and Asia. Its hydro portfolio provides renewable electricity while also offering flexibility that is valuable when wind and solar output fluctuates. The Devoll hydropower project in southeastern Albania illustrated the group's development approach in the 2010s. Construction began in 2013, Banja was completed in 2016, and the project ultimately comprised the Banja and Moglicë plants with combined capacity of roughly 256 MW. Statkraft diversified its renewable portfolio during the 2010s and 2020s. It developed wind assets in Germany and France and began working with solar power in 2010, with solar plants and development activities in markets such as India and the Netherlands. In 2020, it acquired Solarcentury, expanding its solar platform in Europe and South America. District heating became another part of the group through Statkraft Varme, which owns and operates plants in Norway and Sweden. The company has increasingly emphasized the role of flexibility, market integration and development scale in the energy transition. In December 2023, it acquired a 450 MW pumped-storage project near Loch Ness in Scotland. In May 2024, it completed the acquisition of Enerfin from Elecnor Group, adding a reported 1.5 GW pipeline and portfolio of wind and solar projects. Today, Statkraft combines renewable generation, energy trading, market access and infrastructure development. It remains a wholly state-owned Norwegian company with headquarters in Oslo, approximately 7,000 employees and operations in more than 20 countries.

2024
Enerfin acquisition completed
[1]Statkraften.wikipedia.org
Statkraft completed the acquisition of Enerfin from Elecnor Group, adding approximately 1.5 GW of wind and solar projects.
2023
Loch Ness pumped-storage acquisition
[1]Statkraften.wikipedia.org
Statkraft acquired a 450 MW pumped-storage project near Loch Ness in Scotland to add renewable-energy storage and system flexibility.
2020
Solarcentury acquisition
[1]Statkraften.wikipedia.org
Statkraft acquired Solarcentury for NOK 1.45 billion, strengthening its solar development and production activities in Europe and South America.
2013
Construction begins on the Devoll hydropower project
[1]Statkraften.wikipedia.org
Statkraft began construction of the Devoll project in southeastern Albania, later comprising the Banja and Moglicë plants.
2007
E.ON asset exchange
[1]Statkraften.wikipedia.org
Statkraft and E.ON agreed an asset exchange reported at approximately EUR 4.4 billion, materially expanding Statkraft's flexible generation position.
2004
Statkraft becomes a limited company
[1]Statkraften.wikipedia.org
Statkraft was reorganized as Statkraft AS while remaining wholly owned by the Norwegian state.
1992
Statkraft is separated from Statnett
[1]Statkraften.wikipedia.org
Statskraftverkene was divided into Statkraft, focused on generation and commercial energy activities, and Statnett, focused on transmission-system operations.
1986
Statskraftverkene is formed
[1]Statkraften.wikipedia.org
Norway separated its power plants and central-grid functions into Statskraftverkene, preparing the structure for the later creation of Statkraft and Statnett.
1921
Norwegian Water Resources and Energy Directorate is established
[1]Statkraften.wikipedia.org
The directorate was created to operate Norway's state power plants and became part of the institutional history of national electricity development.
1895
Norwegian state acquires rights to Paulenfossen
[1]Statkraften.wikipedia.org
The Norwegian state purchased its first ownership rights to a waterfall at Paulenfossen in southern Norway, an early milestone in the development of state-controlled hydropower.

Products and positioning

A state-owned European renewable-energy leader built around hydropower, complemented by wind, solar, district heating, flexible generation and energy-market expertise.

Renewable electricity generation
Hydropower
Hydropower is Statkraft's core business and supplies the majority of its renewable electricity. The group operates and participates in more than 300 hydroelectric plants across Europe, South America and Asia. Reservoir-based generation gives Statkraft both renewable output and dispatchable capacity, allowing it to adjust production as demand and variable wind and solar generation change.
Renewable electricity generation
Wind power
Statkraft develops, owns and operates wind-energy assets as part of its diversification beyond hydropower. Its documented wind activities have included generation assets and projects in Germany and France, as well as broader development activity in European and international markets.
Renewable electricity generation · 2010
Solar power
Statkraft has worked with solar energy since 2010 and has developed or operated solar assets in markets including India and the Netherlands. The acquisition of Solarcentury in 2020 expanded the group's solar-development platform and added facilities and projects in Europe and South America.
Heat and energy infrastructure
District heating
Through Statkraft Varme, the group owns and operates district-heating plants in Norway and Sweden. District heating supplies heat through local networks serving towns and densely populated areas and can use renewable or lower-emission energy sources as part of an integrated urban energy system.
Energy markets
Energy trading and wholesale services
Statkraft participates in international energy markets in addition to owning generation assets. Its activities include wholesale electricity and energy trading, market access, portfolio optimization and the management of generation flexibility. These capabilities connect its hydro, wind, solar and other assets with regional power markets.
Energy storage · 2023
Pumped-storage hydropower
The Loch Ness project acquired in 2023 represents Statkraft's expansion into large-scale pumped-storage capacity. Such facilities can store electricity by pumping water uphill and generate it later when demand or system needs rise, complementing intermittent renewable generation.

Brand decisions

2024
Complete the Enerfin acquisitionM&A
Background
Statkraft sought to increase its wind and solar development portfolio and international renewable-energy scale.
Action taken
Statkraft completed the acquisition of Enerfin, Elecnor Group's renewable-energy subsidiary.
Aftermath
The transaction added a reported portfolio of approximately 1.5 GW of wind and solar projects.
Wind and solar portfolio added. Approximately 1.5 GW (2024)
Source
2023
Add large-scale pumped-storage capacityStrategy
Background
The growth of variable renewable generation increased the value of storage and flexible power capacity.
Action taken
Statkraft acquired a 450 MW pumped-storage project near Loch Ness in Scotland.
Aftermath
The acquisition broadened Statkraft's renewable-energy platform to include long-duration electricity storage and system flexibility.
Source
2020
Acquire SolarcenturyM&A
Background
Statkraft aimed to expand beyond hydropower and strengthen its solar-development capabilities.
Action taken
Statkraft acquired Solarcentury and took full control of the company's solar production facilities and development platform.
Aftermath
The acquisition expanded Statkraft's solar presence in Europe and South America.
Acquisition price. NOK 1.45 billion (2020)
Source
2007
Exchange assets with E.ONM&A
Background
Statkraft sought to strengthen its generation portfolio and increase its position in the European energy market.
Action taken
Statkraft exchanged its interests in E.ON Sweden for flexible power-production assets and other E.ON shares in a transaction reported at approximately EUR 4.4 billion.
Aftermath
The transaction increased Statkraft's scale and contributed to its position as a leading European renewable-energy generator.
Reported transaction value. (2007)
Source
2004
Convert Statkraft into a limited companyStrategy
Background
The company sought a corporate form suited to broader commercial and international activity while retaining state ownership.
Action taken
Statkraft SF was reorganized as Statkraft AS.
Aftermath
The company remained wholly owned by Norway but operated through a limited-company structure.
Source
1992
Separate generation from transmissionStrategy
Background
Norway restructured Statskraftverkene to distinguish electricity generation from operation of the national transmission system.
Action taken
Statkraft was established as the generation-focused state enterprise, while Statnett became the transmission-system operator.
Aftermath
The separation created the corporate structure under which Statkraft later expanded its generation, trading and international renewable-energy activities.
Source

Recent events

2024
Statkraft completes acquisition of Enerfin[1]Statkraften.wikipedia.org
M&A
Statkraft finalized its purchase of Enerfin, the renewable-energy subsidiary of Elecnor Group. The transaction added a reported portfolio of approximately 1.5 GW of wind and solar projects.
2023
Statkraft acquires a 450 MW pumped-storage project near Loch Ness[1]Statkraften.wikipedia.org
M&A · Product launch
Statkraft acquired a pumped-storage hydropower project in Scotland intended to provide large-scale energy storage and flexibility for a power system with increasing renewable generation.
2020
Statkraft acquires Solarcentury[1]Statkraften.wikipedia.org
M&A
Statkraft announced the acquisition of Solarcentury for NOK 1.45 billion, taking full control of the solar developer and its production facilities in Europe and South America.
2007
Statkraft and E.ON agree a major asset exchange[1]Statkraften.wikipedia.org
M&A
Statkraft and E.ON signed a letter of intent to exchange Statkraft's interests in E.ON Sweden for flexible generation assets and other E.ON holdings. The reported transaction value was approximately EUR 4.4 billion.

Sources11 sources

Cite this profile: Cite the canonical profile. /brand-wiki/statkraft · Editorial policy · How profiles are compiled