Statkraft talks energy trends, new technologies and policy with BloombergNEF

11 Nov, 2020

BloombergNEF’s New Energy Outlook reveals that power capacity (GW installed) will almost triple to 2050 and that renewables are now the cheapest new electricity in countries making up just under three quarters of world gross domestic product (GDP).

The energy transition is progressing, and renewable energy is growing across the world, despite setbacks including Covid-19.  Statkraft’s Low Emissions Scenario 2020 also assumes that even though the Covid-19 crisis thwarted the predicted course of the year, the focus and drive related to resolving the climate crisis will continue, both in parallel to and post-pandemic. At the same time costs for green technologies will continue to decline.  

“Our projections for the power system have become even more bullish for renewables than in previous years, based purely on cost dynamics,’’ said BloombergNEF Chief Economist and lead author Seb Henbest during the Nordic launch of the NEO 2020 report. “Innovation and scale have driven down the costs of renewable energy and at the same time the technology keeps getting better. The next ten years will be crucial for the energy transition.”

“Statkraft is very well positioned to create values in this transition and all our investments go into renewable energy. Climate change remains a driver in the energy transition, and the continual cost declines and the increasing capacity of renewables make it the smart economic choice,” according to Statkraft CEO Christian Rynning-Tønnesen

During the debate following BloombergNEF’s presentation, the panellists including Norway’s Petroleum and Energy Minister Tina Bru also discussed electrification, the European Green Deal and hydrogen. 

View the presentation and debate here.

Download the presentation here.