Statkraft

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Statkraft AS
Type State owned
Industry Electricity
Founded 1986
Headquarters Oslo, Norway
Area served Norway
Key people Christian Rynning-Tønnesen (CEO)
Svein Aaser (Chairman)
Revenue Increase NOK 37,82 billion (2008)
Operating income NOK 29,34 billion (2008)
Net income NOK 16,61 billion (2008)
Employees 1,965 (2006)
Parent Norwegian Ministry of Petroleum and Energy
Subsidiaries Trondheim Energi
Website www.statkraft.com

Statkraft is a Norwegian state owned electricity company. With a total energy production of 44.9 TWh in 2007,[1] the Statkraft Group is the third largest energy producer in the Nordic region, as well as the largest energy producer based on renewable energy sources in Europe, [2] consisting of 40% of the production in Norway. Including the subsidiaries Skagerak Energi and Trondheim Energi, the group has some 2100 employees. The company has its headquarters in Oslo, Norway.

Hydroelectric power provides the majority of Statkraft's renewable energy; it operates 133 plants in Norway, 12 in Sweden and four in Finland. The company also operates two windfarms in Norway, Smøla Wind Farm and Hitra Wind Farm, in addition to district heating in Trondheim and gas power and hydroelectric power in Germany.

Statkraft owns 100% of Trondheim Energi. In addition it has partial ownership of Skagerak Energi (66,62%), Naturkraft (50%), SN Power (50%), Bergenshalvøens Kommunale Kraftselskap (49,9%), Agder Energi (45,5%), E.ON Sverige (44,6%) and Småkraft.

History[edit]

The state bought its first power plant in 1895, at Paulafossen. In 1921 Norges vassdrags- og energiverk was created to operate the nation's power plants. In 1986 the power plants and central power grid were split off as Statkraftverkene, which was divided again in 1992 into Statkraft and Statnett, with Statkraft SF being created as a government enterprise. Through the 1990s and 2000s Statkraft acquired a number of local power plants in Norway in addition to expanding abroad. In 2004 Statkraft was reorganised as a limited company, Statkraft AS, still wholly owned by the state.

In 2007 Statkraft and E.ON signed a letter of intent to swap Statkraft's shares in E.ON Sverige in exchange for flexible power production assets and shares in E.ON. The total value of the asset swap is € 4.4 billion. A final agreement was to be signed during the first quarter of 2008.

Current Strategy[edit]

Statkraft's current strategy is growth in three directions:[3]

1) Industrial developer in Norway. Statkraft wants to be a driving force in developing the clean energy market in Norway and secure the country with stable energy sources in the future.

2) European flexible power producer Through it resources of regulative energy production, Statkraft wants to increase its market operations in Europe. The company's position, competence and strong financial position makes a solid platform for future growth.

3) Green global developer It is estimated increased demand for clean energy in years to come, and stronger demands for sustainable energy solutions. Statkraft therefore want to be strong in the niche market of hydro power and renewable energy sources in Europe.

Chairmen[edit]

References[edit]

Coordinates: 59°54′55.11″N 10°38′7.92″E / 59.9153083°N 10.6355333°E / 59.9153083; 10.6355333