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Statkraft to invest $1.2 billion a year in renewables until 2025

Staff Writer |
Statkraft is planning annual investments of around NOK 10 billion in renewable energy in the period 2019-2025.

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In addition to large upgrades of Nordic hydropower, the company has an ambition to reach 6000 MW onshore wind and 2000 MW solar until 2025. Statkraft also has an ambition to triple its volumes managed on behalf of customers.

Norway remains the largest single market for investments. Annual investments in the renewal of Norwegian hydropower plants amount to about NOK 1.2 billion alone.

In addition, investments are planned in new, green business opportunities. The majority of growth will come in Europe, while substantial growth will be added to markets where Statkraft is already present in South America and India.

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. In this way, the company strengthens Statkraft’s position as a broad and leading renewable energy company.

The investments will 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.

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