Statkraft

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Statkraft AS
Aksjeselskap
Industry Electricity
Founded 1986
Headquarters Oslo, Norway
Area served
Norway
Key people
Christian Rynning-Tønnesen (CEO)
Thorhild Widvey (Chairman)
Revenue Increase NOK 52.2 billion (2014)
NOK 29.34 billion (2008)
NOK 16.61 billion (2008)
Number of employees
4200 (2015)
Parent Ministry of Trade, Industry and Fisheries
Website www.statkraft.com

Statkraft is a hydropower company, fully owned by the Norwegian state. The Statkraft Group is a generator of renewable energy, as well as Norway’s largest and the Nordic region’s third largest energy producer. Statkraft develops and generates hydropower, wind power, gas power and district heating, and is also a player in the international energy markets. The company has some 4200 employees and their headquarters is located in Oslo, Norway.

History[edit]

The Norwegian state acquired its first ownership rights to a waterfall when they bought Paulenfossen in Southern Norway in 1895.

In 1921 The Norwegian Water Resources and Energy Directorate (NVE) was created to operate the nation's power plants. From 1950 to 1960, the state constructed large hydropower plants across the country.

In 1986 the power plants and central power grid were split off as Statskraftverkene, which was divided again in 1992 into Statkraft and Statnett. Statkraft SF was created as a government enterprise.

Through the 1990s and 2000s Statkraft acquired a number of local power plants in Norway in addition to expanding internationally. In 2004 Statkraft was reorganized as a limited company, Statkraft AS, still wholly owned by the state.

The international breakthrough[edit]

In 2007 Statkraft and E.ON signed a letter of intent to swap Statkraft's shares in E.ON Sweden in exchange for flexible power production assets and shares in E.ON. The total value of the asset swap was €4.4 billion. The transaction made Statkraft Europe's largest producer of renewable energy, marking 2008 the year of Statkraft's international breakthrough.

Statkraft today[edit]

Hydroelectric power provides the majority of Statkraft's renewable energy. The total annual power production was 56 TWh in 2014.[1]

In 2013, Statkraft began constructing the Devoll Hydropower project In south eastern Albania. It consists of three hydropower plants, Banja, Gramshi and Moglicë, to be built in the valley of Devoll, with an installed capacity of roughly 300 MW. Two plants are expected to be completed by mid 2016, with the third being completed by 2018. The total project is expected to cost more than 600 million euros. [2]

District heating[edit]

District heating is a separate energy system that forms a natural part of the energy supply for towns and cities and densely populated areas. District heating based on renewable energy sources has a positive environmental effect. Through the subsidiary Statkraft Varme, the Statkraft Group owns and operates a number of district heating plants in Norway and Sweden.

References[edit]

  1. ^ "Annual Report 2014 | Statkraft". www.statkraft.com. Retrieved 2016-02-10. 
  2. ^ "Devoll Hydropower Project". Retrieved 2016-05-10. 

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