2000 - 2005

Internationalisation and acquisitions

At the beginning of the new millennium, the world faced an increasing level of internationalisation, and more extreme weather underscored climate change. Statkraft focused on new energy and growth through mergers and acquisitions.

2000 – 2005
International growth and positioning

2000-2005Statkraft entered the new millennium with the strategic goal of becoming Europe's leading pure energy company. This would be achieved through investments in climate-friendly power generation and new energy sources, alone or in partnership with others.

Smøla wind farm

2002Wind power became a new and important business area in the early 2000s. Statkraft's first wind farm was opened on Smøla Island in Møre and Romsdal County in 2002.

Establishment of SN Power

2002Along with Norfund, the Norwegian Investment Fund for Developing Countries, Statkraft created the international power company Statkraft Norfund Power Invest (SN Power) in 2002. The company was formed to promote economic growth and sustainable development in new and emerging markets. In 2003, SN Power started operations in Peru.

New company and new energy

2004In 2002, the Norwegian Government introduced significant changes in the relationship between the state and Statkraft. From 1 October 2004, Statkraft was reorganised as a limited company, wholly owned by the state. The corporate group Statkraft AS was established with the strategic goal of becoming a European leader in environmentally friendly energy. Late in 2004, group management in Statkraft decided to establish a business area called "New Energy." The business area was to identify and assess environmentally friendly forms of energy and projects in Europe in which Statkraft could get involved. The establishment was part of a larger reorganisation aimed in part at assembling the professional communities of people who worked with new technologies and business development. However, it also reflected an ambition to intensify and focus efforts on organic growth. New Energy initiated an extensive survey of investment opportunities in Europe, and the results of the project were ready early in the summer of 2005. In keeping with Statkraft's environmental profile, the working group had limited themselves to considering three energy sources: wind, water and gas. Wind and water were clean, renewable and unproblematic. Gas could be said to lie in a grey area, but was far cleaner than coal, for example.