President and CEO
Statkraft is a leading company within international hydropower and Europe's largest supplier of renewable energy
In 2014, Statkraft has maintained high basic earnings in a demanding European energy market. This was a major achievement brought about by good operations and energy optimisation, strong contributions from market operations and new power plants.
2014 was characterised by a high level of activity. Statkraft integrated SN Power’s activities in South America and South-Asia, and sold power plants in Finland and wind power shareholdings in the UK. A hydropower plant exchange took place in Norway, as well as completion of new hydropower plants and district heating plants. New wind farms started operations in Sweden and the UK. Activity is high within rehabilitation and upgrades of ageing hydropower plants in Norway and Sweden, and Statkraft has several global hydropower projects under construction.
Statkraft has consistently demonstrated high value creation and industrial efficacy over many years. In Prop. 40 S (2014–2015), the Ministry of Trade, Industry and Fisheries wrote that Statkraft had "grown into a Norwegian renewables company on the international scale" and that Statkraft, in the opinion of the Ministry, has "considerable commercial potential". Following a proposal from the Norwegian Government, a unanimous Storting approved an equity injection for Statkraft totalling NOK 5 billion and future dividends will be reduced by an additional NOK 5 billion. This enables Statkraft to realise a profitable and climate-friendly strategy.
Climate change is the great challenge of our time
Vast amounts of renewable energy will be needed to reach the goal of limiting the global temperature increase to 2°C. It requires international agreements, predictable framework conditions, technological development, industrial expertise and capital. For a company like Statkraft, this will yield significant opportunities for profitable growth both in Norway and internationally.
Statkraft is well-positioned to contribute in the international commitment to limit global warming. We have a strong portfolio of hydropower, wind and district heating projects. Statkraft is also working actively on research and innovation that will contribute toward strengthening the Group's competitiveness and promote new business development within clean energy.
Statkraft supplies clean energy – now more important than ever.