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Statkraft to Reinvest in Norwegian Hydropower
Hydropower will get most of the spending, with more than NOK 70 billion set aside for upgrades, maintenance and new capacity over 10 years.
- Statkraft announced plans to invest NOK 80 billion in Norwegian power generation over the next ten years, positioning the company as a major contributor to industrial activity nationwide.
- Aging hydropower infrastructure drives the investment, as many facilities near the end of their operational lifetime and require modernisation. Approximately half the capital funds major maintenance while the remainder supports upgrades and new capacity.
- President and CEO Birgitte Ringstad Vartdal stated, "Hydropower is often portrayed as almost cost-free, but this is a reminder of the considerable investment required to sustain a robust energy system." Statkraft aims to initiate at least five major upgrade projects by 2030.
- Projects will span from Finnmark in the north to Telemark in the south, creating nationwide industrial opportunities. The company also targets doubling wind power generation over the coming decade to reduce price peaks and maintain stable supply.
- New projects require licensing from the Norwegian Water Resources and Energy Directorate and municipal approvals. Statkraft will prioritize investments meeting strict profitability requirements before proceeding with final investment decisions.
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Over the next ten years, Statkraft plans to invest around 80 billion kroner in Norway. The estimates have been revised upwards significantly.
·Oslo, Norway
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Statkraft to reinvest NOK80 bn in Norwegian hydropower
Statkraft has updated its Norway investment plan for the next decade, with most spending directed to hydropower upgrades, maintenance and new capacity.The post Statkraft to reinvest NOK80 bn in Norwegian hydropower appeared first on Modern Power Systems.
Over the next ten years, Statkraft plans to invest around 80 billion kroner in Norway. The estimates have been revised upwards significantly.
– One of the biggest industrial promises in Norway in many decades, says the executive director.
·Oslo, Norway
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Total News Sources16
Leaning Left1Leaning Right2Center1Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
L 25%
C 25%
R 50%
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