Energy major from Norway Statkraft has expanded its cumulative installed renewable energy capacity target for 2030 to 30 GW, driven by onshore wind, solar and battery storage for which it will now target 4 GW annual capacity by the target year, up from 2.5 GW to 3.0 GW in 2025.
It will also target to develop 2 GW of green hydrogen by 2030 with major focus on Norway and Swedish markets while also expanding outside the Nordics.
In Europe, it plans to 'keep more ownership' for wind and solar assets, and also provide 'competitive' operations and maintenance at scale.
All this is part of Statkraft's updated strategy Towards 2030: Creating value by enabling a net-zero future, which is based on 4 strategic pillars. These are using hydropower to provide clean flexibility; accelerate solar, onshore and offshore wind, and battery storage; deliver green market solutions to customers, and scale new green energy technologies.
The focus will also be on hydropower as the company wants to invest in a minimum of 5 large projects in Norway by 2030. Europe at large along with South America and India are the geographies where it will pursue more opportunities for sustainable energy.
Statkraft CEO Christian Rynning-Tønnesen explained, "The need for renewable energy is increasing sharply, both to meet net zero targets, cover new power consumption in Norway and strengthen European energy security. Combined with increased investment capacity, Statkraft is now boosting the pace of developing more renewable energy."
To meet these targets, the company has now slotted its business into 3 separate geographical regions of the Nordic, Europe and International, to be led by Rynning-Tønnesen.
At the same time, it is establishing a new business area called New Energy Solutions to develop new business opportunities within the green energy transition, as green hydrogen. The EVP of New Energy Solutions will be Jürgen Tzschoppe.
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