Statkraft’s Big Renewables Plans For Germany

• Statkraft says it plans to deploy around 2 GW wind and solar capacity in Germany by 2030
• It aims to install between 300 MW to 500 MW capacity annually from 2027
• Green hydrogen is also an opportunity it aims to explore here with a target of a minimum 250 MW electrolysis capacity by 2030

Norwegian energy company Statkraft has unveiled its German market strategy saying it will target to install 2 GW wind and solar power capacity in the country by 2030, which will include building around 300 MW to 500 MW capacity annually from 2027.

Statkraft's management said this will be on top of its 1.8 GW flexible power plant portfolio in Germany.

It sees an opportunity to grow in the country's renewable energy sphere as Germany, along with the rest of Europe, deals with energy crisis and climate change. At the same time, Germany has policy certainty behind its target to install 215 GW solar by 2030 (see German Government Agrees On Higher 2030 Solar Goal Of 215 GW).

"Germany is facing the major challenge of massively accelerating the expansion of renewable energy in order to achieve the climate targets and create a faster phase-out of fossil fuels. We can confront this challenge with very concrete solutions," said Statkraft Country Manager in Germany, Stefan-Jörg Göbel.

He said Statkraft's ambition is to become a leading global renewable energy producer, building 2.5 GW to 3.0 GW annually, equivalent to one new power plant every ninth day from 2025.

Statkraft's German strategy also involves setting up a minimum of 250 MW operational electrolysis capacity by 2030. It is currently working on a 10 MW pilot project at the existing power plant site in Emden with an aim to produce green hydrogen with a total capacity of up to 200 MW connected to the future hydrogen pipeline network by 2030.

Having entered the market in 2019, the Norwegian company says it has enabled financing and operation of around 1 GW of subsidy-free renewable energy capacity in Germany over last 2 years.

However, Statkraft is worried that the introduction of a contract-for-difference (CfD) support system in Germany will slow down the power purchase agreement (PPA) market and wants the government to not make it mandatory to conclude a CfD.

Recently, Statkraft signed 10-year PPAs for 760 GWh wind and solar power supply with Germany based international packaging manufacturer Alpla. Power will be supplied from 40 MW solar and 16.8 MW wind portfolio in Germany.