2005 - 2015
Statkraft grew through mergers and acquisitions and became Europe's largest producer of renewable energy. It was during this period that the company made its international breakthrough.
Challenges in India
In 2005, Statkraft joined the Allain Duhangan hydropower project in India. The project showed how challenging hydroelectric construction projects in developing countries can be.
Wind in the UK
Wind power was a rapidly growing market in Europe at this time, and the United Kingdom stood out as a particularly attractive market for Statkraft.
The trend in Europe after the millennium was for large power companies to merge in order to become more competitive. An asset swap agreement with German E.ON made Statkraft Europe's largest producer of renewable energy.
Technology development and offshore wind
Statkraft's position as Europe's largest renewable energy company was strengthened in 2009. Several renewable technologies were developed, and Statkraft teamed up with Statoil to build the Sheringham Shoal wind farm off the east coast of England.
Investment in Turkey
Statkraft continued to invest in international hydropower and wind power, and in 2009 the company entered the Turkish market. This would prove to be a key market for the company.
The Sheringham Shoal wind farm is located about 20 kilometres from North Norfolk off the east coast of England. The spectacular wind farm can supply 220 000 British households with pure energy.
International hydropower expertise
In 2013, Statkraft and the Norwegian Investment Fund for Developing Countries (Norfund) agreed to restructure and expand their partnership in renewable energy. The two companies had established Norfund Power Invest (SN Power) in 2002. The aim of the agreement in 2013 was to create a leading international community of hydropower expertise based on Statkraft, SN Power and the subsidiary Agua Imara, which was established by SN Power and Norfund in 2009. Statkraft moved operations in Peru, Chile, Brazil, India and Nepal into its portfolio, while SN Power and Agua Imara were merged into an organisation to continue developing hydropower projects in emerging markets in Central America, Africa and Southeast Asia. After the restructuring, Statkraft continued to develop the energy trading business in new markets such as Brazil and India.
Focus on biofuel
Biofuels are climate-friendly and offer a fast solution to cutting emissions. In 2015, Statkraft established the biofuel company Silva Green Fuel together with the Swedish company Södra.
120 years old and new proactive investments
2015 marks Statkraft’s 120th anniversary, and the company has become Europe's largest producer of renewable energy. It can rightly call itself a global company. However, the story does not end there.
2015 is a year of celebration for Statkraft. 120 years after the Norwegian state's first acquisition of rights to a waterfall, Paulenfoss in Vest-Agder County, Statkraft ranks as Europe's largest producer of renewable energy, and has activities in 20 countries. The first milestone in the anniversary year is the opening of the Kargi hydropower plant in Turkey with a capacity of 102 MW, a ceremonious occasion that clearly confirms the company's long-term investment strategy in Turkey. The other milestone for Statkraft is the opening of Cheves hydropower plant in Peru, where a capacity of 171.68 MW will give even more Peruvians access to renewable energy.
At the beginning of 2015, Statkraft decided to increase its ownership in the energy company Desenvix in Brazil to strengthen its commitment to a country with significant potential to produce power from water, wind and sun. At the same time, Statkraft joined forces with the Swedish company Södra to establish the biofuel company Silva Green Fuel, which will convert forest-based biomass to second-generation biofuel in Hurum in Buskerud County.