International breakthrough

Statkraft continues to grow and becomes Europe's largest producer of renewable energy. The company also makes its international breakthrough.

There was a trend in Europe after the millennium that saw large power companies merging with each other in order to become more competitive. Statkraft continued to grow through mergers and acquisitions. A transaction with an estimated market value of NOK 25 billion with the German energy company E.ON in 2008 resulted in Statkraft acquiring a number of new hydropower plants in Sweden, Germany and the UK, as well as district heating plants in Sweden, gas-fired power plants in Germany and shares in E. ON. 2008 is seen as the year of Statkraft's international breakthrough.

New offices were opened in London, partly to assist in the nine British wind power projects where Statkraft was involved. Off the coast of Norfolk, England, the world's third largest offshore wind farm, Sheringham Shoal, opened in 2012 and can supply 220 000 British households with pure and renewable energy. Statkraft owns the wind farm in partnership with Statoil. Three additional offshore wind parks off the coast of England were planned and in progress.

Statkraft expanded its trading operations and set up trading offices several places in the Balkans. It also developed its own hydropower projects, first in Turkey and later in Albania.

In 2013, Statkraft and Norfund signed an agreement with the common intention of restructuring and extending their cooperation in renewable energy. The goal was to create a leading international hydropower community of expertise, based on assets from Statkraft, SN Power and Aqua Imara. Statkraft moved operations in Peru, Chile, Brazil, India and Nepal into its portfolio, while SN Power and Agua Imara were merged into an organization to continue the development of hydropower projects in Central America, Africa and South East Asia. After the restructuring, Statkraft continued to develop trading operations in new markets such as Brazil and India.

In 2015 Statkraft joined Swedish Södra to begin producing second generation biofuels from forestry raw materials.

Statkraft has become Europe's largest producer of renewable energy and, with activities in more than 20 countries on four continents, can rightly call itself a global company. However, the story does not end there. In 2015 the company received NOK 10 billion in fresh equity from its owner, the Norwegian state. This will enable new proactive investments.