Statkraft in Continental Europe: Pure Energy and Sustainable Growth

07.02.2007 08:00 | pressrelease

Statkraft is uniquely positioned to benefit from the growing importance of climate protection and increased competition”, says Torsten Amelung, Managing Director of Statkraft Markets Continental located in Amsterdam, Düsseldorf and Sofia. This is completely in line with the EU’s revised energy policy which is based on three key elements:

  • increased competition
  • climate protection through reduced emissions
  •  security of supply

Statkraftis the second largest producer of renewable energy in Europe and the only major player with purely hydro, wind and CCGT-generation (combined cycle gas turbine). This policy will be continued: “Our focus is on Pure Energy and sustainable growth.”

”We are now establishing a combined generation and trading presence in Germany”, says Jürgen Tzschoppe, Head of Portfolio Management and Asset Management and Managing Director of the German subsidiaries for power generation.

  • 90 % of the construction of our CCGTs in Herdecke and Knapsack is finished. Commercial operation is scheduled to start in autumn this year as expected.
  • 30 new people have been hired in Knapsack to run the power plant. 15 people to support dispatch and commercial operation of the plants have been recruited as well.

”We are all really excited that 8 years after our first Continental office was set up in Amsterdam, we will finally be able to fully employ our business concept in Continental Europe”, says Stef Peters, Managing Director of Statkraft Markets BV in Amsterdam and Head of Renewables and Emission.

When the power plants in Continental Europe are operational Statkraft will have migrated its full business model to Continental Europe consisting of:

  • operation & maintenance
  • trading and origination
  • dynamic hedging of generation exposure with the aim to reduce risk and make money based on fundamental analysis

”At the end of this year Statkraft's continental portfolio will be our two brand-new CCGTs (1000 MW at equity) and the Baltic Cable (400 MW at equity)”, says Helge-Jürgen Beil, Head of Energy Projects. “And we will be looking into gas storage and other infrastructure investment that would further support our Continental trading and origination business.”    

”Trading and origination during 2006 has been very successful”, says Frederic Beucher, Head of Trading of Statkraft Markets Continental. ”We are now trading energy in 12 countries in Continental Europe and expand into East and South East Europe. Apart from that we started multicommodity trading.” 

Moreover, the non-standard business developed quite well:

  • We have done the first non-standard gas-deals in Germany as preparation to manage our gas position around our gas fired power plants.
  • Moreover, Statkraft was very successful in non-standard Renewables and Emissions Trading. We have sourced CO2 and related products very successfully from several projects outside Europe.

”The EBIT of our Continental Trading Operations totalled more than 21 mn € in 2006. We have been profitable for 5 years in a row”, says Virpi Lehikoinen-Greis, CFO of Statkraft Markets Continental.

”Regarding South East Europe Statkraft is going to establish itself in a region with unexploited hydropower potential”, says Stefan-Jörg Göbel, Head of Origination: 

  • Romania and Bulgaria recently joined the European Union
  • In January 2006 Statkraft opened an office in Sofia
  • A subsidiary has been set up in Bukarest two weeks ago
  • Another office in Belgrade will be established this winter

In terms of strategy Statkraft will focus on its core competencies in Continental Europe:

  • Statkraft will expand its environmentally friendly generation fleet: further CCGTs in North-West Europe, wind in UK as well as hydro in South-East Europe
  • Statkraft will expand its trading in power and related commodities
  • Statkraft will continue to co-operate with long-term partners both in generation and in trading


Statkraft is Europe's second largest company within renewable energy. We produce hydropower and wind power, we build gas-fired power plants and we focus on innovation with a clear ambition to deliver the energy solutions for the future. We are a considerable actor on the European Power Exchanges, with special expertise within physical and financial power trading. In Norway, we supply electricity to approximately 500,000 customers through our ownership interests in other companies. We had gross revenues of around NOK 15 billion and total assets of around NOK 90 billion in 2005. More than 2000 employees in Norway, Sweden, Finland, Germany, the Netherlands, Great Britain and Bulgaria create value every day. Together we strive to be a European leader in environment-friendly energy.