Ramping up as wind and solar developer

Towards 2050, population growth and higher standard of living will lead to increasing energy use globally. At the same time, we expect significant energy efficiency improvement and more use of electricity. This massive growth increases the need for flexibility.

Statkraft as Europe’s largest renewables player is well placed to deal with increased energy use. But also we have to adapt; adjust strategy and to improve on efficiency and agility to meet the increased need for renewable energy solutions.

Renewables will cover 80 percent by 2050

According to our Low Emissions Scenario, renewables will continue to grow strongly the next 30 years. With the rapid deployment of renewables, around 80 percent of power generation will be met by renewable sources in 2050.

Solar power is the fastest-growing source of new energy worldwide, covering 38% of all global electricity production. Wind power is also growing fast and will cover 28% of electricity generation in 2050, according to this scenario.

Global electricity production Low Emission Scenario 2019

Costs of renewable energy coming down

Solar PV and wind costs have dropped 88% and 69% since 2009, respectively. And prices will continue to fall. In the Low Emissions Scenario, the cost of solar PV will further fall by 50% and wind power by 40% by 2050.

Already today, installing new wind or solar capacity is the cheapest option for building new power capacity in most countries in the world. In the most favourable locations, building new renewables are cheaper than running existing coal or gas power plants.

Strategy committed to sustainable energy solutions

Climate change and global warming are among the greatest challenges of our day. As a leading renewable energy company, we will be part of the global transition towards a low carbon economy. Statkraft will meet the increased need for renewable energy solutions, ramping up as a major wind and solar developer.

Aiming at installed capacity of 6 GW wind and 2 GW solar energy

Statkraft has built 1 gigawatt of wind and solar and have yet another gigawatt under construction. Our ambition is to develop 6 GW of wind power and 2 GW of solar power by 2025.