New energy and groth

The world faces an increasing level of internationalisation – and more extreme weather confirms climate change. Statkraft focusses on new energy and on growth through mergers and acquisitions.

Statkraft entered the new millennium with the strategic goal of becoming Europe's leading pure energy company. This will be achieved through investments in climate-friendly power generation, and new energy sources, alone or in partnership with others. The company has a broad portfolio within hydropower, wind power and district heating, and has plans for a series of large mergers and acquisitions in Northern Europe and other parts of the world. Along with Norfund, the Norwegian Investment Fund for Developing Countries, Statkraft created the international power company SN Power in 2002 to promote economic growth and sustainable development in new emerging markets in South America, Asia and Agua Imara for development of renewable energy in Africa, .

Wind power became an important new business area during this period. In 2002, His Majesty King Harald cut the ribbon and officially opened Norway's largest wind farm on Smøla Island in Møre and Romsdal County. A total of 68 wind turbines provide an annual production equivalent to the normal consumption of nearly 18 000 Norwegian households. This was Statkraft's first wind farm, but certainly not the last.

In 2004 Statkraft was converted into a limited company, with the state owning all the shares. The Statkraft Group decided to build a gas-fired power plant in Knapsack in Germany, and formed a partnership with a German utility company for a new gas-fired power plant in Herdecke. In Sweden and Finland, a number of hydropower plants were acquired from Swedish-German E.ON. It became well-known that Statkraft had ambitions for strong growth outside Norway and outside Europe.